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  • Apr 20, 2014
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HKMA

The Hong Kong Monetary Authority oversees Hong Kong’s monetary system. It was founded in 1993 when the Office of the Exchange Fund merged with the Office of the Commissioner of Banking. Its responsibilities include maintaining currency stability, monitoring Hong Kong’s banking system and managing the Exchange Fund.  

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What's being said on facebook.com/southchinamorningpost

PUBLISHED : Wednesday, 24 October, 2012, 12:00am
UPDATED : Wednesday, 24 October, 2012, 2:19am

On a proposal to require new buildings in HK to be built to withstand earthquakes:

Ellen Oi Lun Cheung - Risk of earthquake in Hong Kong? This is the first I have ever heard of it. Look at those vulnerable tall and skinny buildings on the slopes. Hope the quake will never happen.

Bob Howe - First they should consider trying to make something that will last more than 30 years…and still be in a liveable condition!

Alfred Tang- It goes hand-in-hand with quake awareness education. I doubt anyone in HK knows how to react if an earthquake happens, unless they have lived in places susceptible to quakes.

Yi Long - A bigger risk in HK would be fires. Lots of old buildings, many with only one entrance, and lots of cables out in the open. When was the last time Hong Kong has ever been hit by a big earthquake!?

 

On the Monetary Authority intervening to hold down the value of the Hong Kong dollar:

Patrick Shu Wing-lee - The HKMA should have done more earlier before the situation was out of control with rising property prices and rents, which have pushed up inflation further when only speculators benefit and most people suffer.

Marcus H. Langston - I hope property prices keep rising and at some point just before everyone decides to sell, they pop. Nobody will be in negative equity but prices will return to normal levels.

 

On calls for a new generation of leaders in Beijing to carry out reforms:

Juha Savolainen - It is not that the CCP leadership is not aware of the need for reforms. Rather, they just don't have any idea of how to stop the reforms running out of their control, once properly started. Hence the Micawber policy of "Something will turn up." Well, yes, we do know something will eventually happen.

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