Senior Appointments at Hong Kong Monetary Authority

The Financial Secretary has appointed Ms Julia Leung Fung-yee to take over from Mr James H. Lau Jr as the Executive Director in charge of the External Department of the Hong Kong Monetary Authority (HKMA) with effect from 1 April 2000. Mr James H. Lau Jr will take over the post of Executive Director (Monetary Policy and Markets) vacated by Mr Peter Pang Sing-tong, who has been the Chief Executive Officer of the Hong Kong Mortgage Corporation since December 1997.

Mr Lau will be responsible for monetary management, market infrastructure including the implementation of the new US dollar clearing system, and information technology. He was appointed Head (Monetary Policy) on the establishment of the HKMA in 1993 and became Executive Director (External) in 1994. Mr Lau joined the Hong Kong Government as Administrative Officer in 1979. He was Hong Kong's Deputy Permanent Representative to the GATT in Geneva from 1986 to 1990 before joining the Office of the Exchange Fund as Assistant Director (Monetary Management) in 1991.

Ms Leung will be responsible for international affairs relating to multi-lateral agencies and central bank co-operation in the region. Ms Leung joined the HKMA in 1994 as Senior Manager in charge of press and publications matters. She was promoted to Division Head in 1996 and has headed the External Relations Division since, except for the period from March to November 1998 when she was deployed to head the Economic Division.

Hong Kong Monetary Authority

17 March 2000

Mr James H. Lau Jr, Executive Director (Monetary Policy and Markets) designate of the Hong Kong Monetary Authority	Ms Julia Leung Fung-yee, Executive Director (External) designate of the Hong Kong Monetary Authority