Monetary Management in Hong Kong

October 1993

The Hong Kong Monetary Authorty organised a seminar on monetary management on 18-19 October 1993. The seminar was addressed by leading experts from the world-wide and attracted a capacity audience of well over 300 economists and professionals from the financial sector. It covered a good range of subjects - different approaches to monetary management, Hong Kong's role as a financial centre in the region, and the HKMA's contribution to, and relationship with, financial and economic developments in China. This publication contains the valuable speeches given by the speakers during the seminar.


Table of contents


  1. Welcoming Address 
    Sir Hamish Macleod
  2. The Role of Monetary Management in an Economy 
    Professor Charles Goodhart
  3. The Global Monetary Environment 
    David Peretz
  4. The Currency Board Approach to Monetary Policy 
    Anthony Latter
  5. Do We Need Central Banks? 
    Professor Milton Friedman
  6. Monetary Developments in Hong Kong 
    Joseph Yam
  7. Monetary Management in Hong Kong: The Role of The Hongkong and Shanghai Banking Corporation Limited 
    John Gray
  8. Monetary Developments in China and Monetary Relations with Hong Kong 
    Chen Yuan
  9. On the Choice of a Banking System for China 
    Professor Steven N.S. Cheung
  10. Hong Kong in a Regional Perspective 
    Anthony Nicolle
  11. Panel Discussion
    1. Monetary Management: Theory and Practice since 1983
      John G. Greenwood
    2. Monetary Management: Theory and Practice
      Dr Y. C. Jao
    3. Non-monetary Economic Adjustments under the Linked Exchange Rate System 
      Dr Y. C. Richard Wong

Last revision date : 01 August 2011