Chief Executive, Hong Kong Monetary Authority Joseph Yam of China

Yam is notoriously remembered by his way in handling the Asian financial crisis in 1997-98.

In 2006, Yam was the highest paid central banker in the world, with an annual salary of HK$9.

Yam is to be replaced by Norman Chan Tak-lam, manager of Donald Tsang's election campaign for Chief Executive in 2007.

Hong Kong Monetary Authority Chief Executive Joseph Yam says the issue of renminbi-denominated bonds in Hong Kong, hopefully by the end of June, will maintain the city's status as an international finance centre and aid Mainland fiscal reform.

In his latest Viewpoint article published on the authority's website, Yam said it will be a small market to start with and secondary-market activity may be slow at first.

Yam said exchange controls on the Mainland will gradually be removed and this may come faster than expected.

Yam said the US rate cut had an initial stabling effect on the global financial panic and the property market in the States, but it would take time to see whether the move would help ease the US credit crisis and reverse the housing contraction.

As the currency of one of the largest economies of the world, the renminbi will become an international currency, and the declared policy of gradually introducing convertibility for capital account items of the balance of payments will help achieve this status, HongKong Monetary Authority Chief Executive Joseph Yam said Thursday.

In his Viewpoint column published on the authority's website, Yam said the development of renminbi business in Hong Kong will help prepare it for the inevitable process of the renminbi becoming an international currency.

The appreciation of renminbi (RMB) will not affect HongKong's Linked Exchange Rate system, Hong Kong's monetary chief Joseph Yam said Thursday.

In his weekly Viewpoint column issued Thursday on the authority's website, Yam said the recent changes in the renminbi exchange rate have arisen naturally out of the development of the mainland economy, which may actually positively impact the city's competitiveness.

However, Yam said he believed there is no logical reason why appreciation in the renminbi exchange rate should lead to any change.

Mr Yam said the interbank money market is showing signs of gradual improvement, although interbank lending for longer tenors remains limited as credit risks persist.

Peg Commitment Hong Kong Monetary Authority Chief Joseph Yam has always publicly maintained his support for the peg, and said Jan 7 it's "working very well.

NEW YORK (CNNfn) - Hong Kong's dollar, the only major southeast Asian currency yet to be devalued, is unlikely to be floated anytime soon -- at least if Joseph Yam has anything to say about it.

Despite those strengths, Hong Kong's Yam said he will remain ever vigilant, telling would-be speculators to beware.

One of the most bizarre arguments against replacing Joseph Yam is that: If you fire him, who will be the chief executive of HKMA? The argument then goes on to ask you to name a person that could do the job.

for a two-way convertibility undertaking on the Hong Kong dollar.

counter-party to every deal if the rate were fixed at 7.

Biography1970 Economics and Statistics graduate of the University of Hong Kong1971 Statistician, Civil Service1976 Worked in the Economic Services Branch1982 Principal Assistant Secretary, the Monetary Affairs Branch1985 Deputy Secretary for Monetary Affairs1991 Director of the Office of the Exchange Fund1993 First Chief Executive, the Hong Kong Monetary Authority1995 The Banker of the Year Award, the Hong Kong Institute of BankersYam is reputedly the first senior government official to write a blogBlog Blog is the contraction universally used for weblog, a type of website where entries are made , displayed in a reverse.

In 2006, Yam was the highest paid central banker in the world, with an annual salary of HK$Hong Kong dollar OverviewThe Hong Kong dollar is the currency of the Hong Kong Special Administrative Region of the People's Republic of China, and h.

Yam is to be replaced by Norman Chan Tak-lam, manager of Donald Tsang's election campaign for Chief Executive in 2007Hong Kong Chief Executive election, 2007 An election was held on 25 March 2007 to select the Chief Executive of Hong Kong at AsiaWorld-Expo to determine the th.

Yam said the Standard Chartered says Temasek retains 18.

Yam was instrumental in the establishment of the Hong Kong Monetary Authority which was set up in April 1993.

Mr Yam is Chief Executive of the Hong Kong Monetary Authority.

To date, the peg has held, and Yam is closely monitoring the health of Hong Kong's banks to make sure they can stand the pressure.

Joseph Yam is chief executive of the Hong Kong Monetary Authority, the Special Administrative Region's quasi-central bank.

Hong Kong's Monetary Authority Chief Executive Joseph Yam said that the exchange rate is one factor in the city's inflation, but not the biggest, noting effective remedies should focus on improving and sustaining labor productivity growth.

In his weekly Viewpoint column published Thursday, Yam says a weak US dollar, a strong renminbi and higher inflation recently may have led some to question again the appropriateness of retaining the link between the Hong Kong dollar and the US dollar.

Chief Executive Donald Tsang during a press conference on Wednesday said officials must eventually move on and that Yam was 60, spurring speculation he wanted Yam to step down soon.

Whether he will retire next year is not clear as Yam has never confirmed any retirement plans.

Chief Executive of the Hong Kong Monetary Authority since 1993.

April 1993 when he was appointed its Chief Executive.

Recent fund flows into the Hong Kong dollar, which have pushed the currency to the top of its trading band, are causing a quantitative easing of.

Hong Kong Monetary Authority Chief Executive Joseph Yam said Monday that establishing a single financial regulator in the territory would be a move.

Inhis latest Viewpoint article on the authority's website, Mr Yam said following the refinements to the Linked Exchange Rate system introduced last month, the outstanding issue now is the question of transferability between Certificates of Indebtedness and the Aggregate Balance.

As far as banknote holders- or the public - are concerned, Mr Yam said they will be unaffected by any changes.

Preventive measures: Monetary Authority Chief Executive Joseph Yam says banks need to pay particular attention to liquidity management and the risks arising from increased market volatility.

In the authority's latest annual report, Mr Yam said better sovereign ratings lower the costs of funding for local debt issuers and help raise market confidence in the Linked Exchange Rate system and monetary stability, which in turn helps underpin economic growth.

turnover of practitioners in the financial industry.

to become an economist and later the HKMA's Chief Executive.

growth in gross domestic product in the mainland.

Joseph Yam was instrumental in the establishment of the Hong Kong.

Paul's College, Hong KongHong Kong GovernmentGovernment official of Hong KongAlumni of the University of Hong KongMonetary AffairsHong Kong Financial CommunityDirector of the officeExchange Fundholding sincechief executiveHKMAPrincipal Assistant SecretaryDeputy Chief ExecutiveexchangeliuSee moreNews About Joseph YamJoseph Yam had a news item on Live Search NewsSCMP.

write(humane_date("2009-01-12 23:32:14"))Joseph Yam had 2 news items on Live Search NewsHK central bank urges new measures to protect investorsdocument.

write(humane_date("2009-01-09 20:51:09"))Joseph Yam had 2 news items on Live Search NewsHong Kong Lawmakers to Call Officials to Testify on Minibondsdocument.

write(humane_date("2009-01-08 08:35:02"))See more newsWebsites About Joseph YamWikipediaJoseph Yam, GBS, JP Joseph Yam has served as Chief Executive of the HKMA since its establishment in April 1993.