Hong Kong Institute For Monetary Research

The Hong Kong Monetary Authority (HKMA) announced today the establishment of Hong Kong Institute for Monetary Research (HKIMR), the objective of which is to conduct research in the fields of monetary policy, banking and finance that is of strategic importance to Hong Kong and the Asian region.

The directors of the Institute, who are appointed by the Financial Secretary, met today to discuss, among other things, the broad directions of research activities and the organizational structure of the Institute. The composition of the Board of Directors is as follows:

Mr. Joseph C.K. YAM (Chairman of the Board)	Chief Executive Hong Kong Monetary Authority
Mr. Tony LATTER (Deputy Chairman)	Deputy Chief Executive Hong Kong Monetary Authority
Mr. Edgar W.K. CHENG	Head Central Policy Unit
Mr. David ELDON	Chairman The Hongkong and Shanghai Banking Corporation Limited
Mr. Rafael S.Y. HUI	Secretary for Financial Services
Mr. Guy MEREDITH	Director, HKIMR Executive Director (Research) Hong Kong Monetary Authority
Mr. Andrew L.T. SHENG	Chairman Securities and Futures Commission
Mr. Richard Y.C. WONG	Professor of Economics Director of School of Business The University of Hong Kong

Headed by Mr Guy Meredith, the Institute will invite distinguished visiting fellows as well as local academics and researchers to undertake research on issues relating to monetary and financial developments in Hong Kong and the region. A Council of Advisors, comprising mainly academics and economists from both the public and private sectors, will be set up to provide guidance and advice on the research activities of the Institute.

"The establishment of the Institute will enable us to tap the vision and insights of distinguished researchers with a view to advancing academic analysis and debate which will hopefully be of practical relevance to the monetary and financial development of Hong Kong and the region. It also provides a more structured framework to promote interaction between the public sector and the academic and research circles," said Mr Joseph Yam, Chairman of the Institute.

The Institute was one of the initiatives announced in the Policy Objectives of the 1998 Policy Address by the Chief Executive of the Hong Kong Special Administrative Region. The Institute is affiliated to the HKMA, and is funded by grants from the Exchange Fund.



Hong Kong Monetary Authority

17 August 1999