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In response to press enquiries, the Financial Secretary, Mr John C Tsang, said today (October 16):
：There has been speculation over the last day or so about the future of Mr Joseph Yam as the Monetary Authority, and I would like to clarify the position.
：Joseph・s experience and expertise in monetary and financial affairs are an enormous asset to Hong Kong, particularly during this time of global financial crisis.
：His hard work over the years to reinforce Hong Kong・s financial system and his contingency planning are now showing their full value. Joseph・s clear vision and wise judgment are essential to helping Hong Kong deal with the present crisis and its aftermath.
：Joseph and I have been working closely and productively since July last year. We are now working even more closely together during this difficult period. I look forward very much to continuing to work with him both through and beyond the present stormy times.；
Ends/Thursday, October 16, 2008
Issued at HKT 20:13
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