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About the HKMA
Who we are
The Hong Kong Monetary Authority (HKMA) was
established on 1 April 1993 by merging the Office of the Exchange Fund
with the Office of the Commissioner of Banking. Its main functions and
responsibilities are governed by the Exchange Fund Ordinance and the
Banking Ordinance and it reports to the Financial Secretary.
The HKMA is the government authority in Hong Kong
responsible for maintaining monetary and banking stability. Its main
functions are:
- keeping the Hong Kong dollar stable
- managing the Exchange Fund - Hong Kong's official reserves - in a
sound and effective way
- promoting the safety of Hong Kong's banking system
- developing Hong Kong's financial infrastructure to enable money to
flow smoothly, freely and without obstruction
Our Objectives
The HKMA's policy objectives are:
- to maintain currency stability, within the framework of the linked
exchange rate system, through sound management of the Exchange Fund,
monetary policy operations and other means deemed necessary;
- to promote the safety and stability of the banking system through
the regulation of banking business and the business of taking
deposits, and the supervision of authorised institutions; and
- to enhance the efficiency, integrity and development of the
financial system, particularly payment and settlement arrangements.
More information of the work of the HKMA can be found from
the
latest HKMA Annual Report,
An
Introduction to the HKMA and its Policy
Areas.
See also:
Press release,
27 June 2003 - Functions and Responsibilities in Monetary and Financial
Affairs: Exchange of Letters between the Financial Secretary and the
Monetary Authority
Updated on 5 September 2007
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