Argentina solves its problems
Bankruptcies reduced
China continues to prosper
Deficit reduced
Exchange rates of major currencies remain stable
Foreign investment in Hong Kong grows rapidly
Government efficiency improves
Hedge funds stay benign
"Intervene" and "In the Money" both win a few races
Japanese financial system restructures
Kung Hei Fat Choy
Legislation for deposit insurance introduced
Monetary system remains stable and robust
Negative equity problem resolved
Objectives of HKMA again achieved
Property prices back on a gentle up-trend
Quantum jump in investment return realised
Renminbi exchange rate remains stable
Stock market index rebounds
Tax revenue flushes in
United States economy recovers
Volatility of global financial markets reduced
"Water" flows abundantly from north to south
"Xin xin" (confidence) recovers on all fronts
Yen does not depreciate too sharply
Zeros added to profit figures
Joseph Yam
14 February 2002
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