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FS on HKMA chief 's departure (with video)

     Following is the transcript of remarks (English portion) by the Financial Secretary, Mr John C Tsang, on the departure of the Chief Executive of Hong Kong Monetary Authority at a media session today (May 19):

Reporter: What is your reaction to Joseph Yam stepping down? ..... suitable candidate?

Financial Secretary: For the second part of the question, all of that will be reviewed when the procedure is completed. Actually, I think, as to Joseph, I am very grateful for his contribution to Hong Kong and his work in the monetary system, in the financial system, has been tremendous and it has helped to maintain Hong Kongˇ¦s financial stability throughout these years. I think his contribution has been tremendous.

Reporter: Is it the right time for Joseph Yam to go?

Financial Secretary: Itˇ¦s the appropriate time.

(Please also refer to the Chinese portion of the transcript.)

Ends/Tuesday, May 19, 2009
Issued at HKT 18:39


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