HKMA Quarterly Bulletin (March 2004 Issue)

Press Releases

15 Mar 2004

HKMA Quarterly Bulletin (March 2004 Issue)

The Hong Kong Monetary Authority (HKMA) today (Monday) published the latest issue of its Quarterly Bulletin. This issue contains feature articles on:

  • Personal renminbi business: Will the Hong Kong dollar be marginalised? - discussing the future role of the Hong Kong dollar following the recent introduction of personal renminbi business by banks in Hong Kong.
  • The impact of a renminbi appreciation on global imbalances and intra-regional trade - examining the arguments behind the calls for the renminbi to appreciate.
  • Hong Kong dollar debt market development in 2003 - reviewing new issues of Hong Kong dollar debt in 2003 and initiatives to promote local debt market development.
  • Real estate indicators in Hong Kong - looking at indicators for monitoring the impact of property price changes on the macroeconomy and the banking sector.

In addition, the Bulletin carries a speech entitled Issues in monetary policy and a Supervisor's Memo on the sharing and use of consumer credit data through a credit reference agency. The Bulletin also contains regular articles on the banking and monetary environment during the fourth quarter of 2003.

The Quarterly Bulletin may be ordered from the HKMA at $100 per copy. The full text of the Quarterly Bulletin is available on the HKMA website at

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
15 March 2004

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Last revision date : 15 March 2004