Norman Chan

Hong Kong needs to develop global network to maintain its leading role in yuan business

"It is unrealistic for one to expect a long-standing monopoly by Hong Kong on the world’s offshore yuan business," Norman Chan wrote. Photo: SCMP Pictures

Hong Kong must play an active role in developing an international network for cross-border business in the yuan if it is to maintain its leadership in a global market for the currency that could grow by 300 per cent over the next decade, Hong Kong Monetary Authority chief

Wednesday, 19 February, 2014, 12:40am 1 comment

Norman Chan pitches Hong Kong yuan services in Dubai

HSBC's Anita Fung says slower rise in yuan normal.

Monetary Authority chief executive Norman Chan Tak-lam and top Standard Chartered executives yesterday met more than 150 businesspeople in Dubai to pitch Hong Kong's yuan services.

Although the yuan is not fully convertible, Beijing has since 2009 encouraged the use of the currency for trade settlements and investment services.

23 Jan 2013 - 3:55am

HKMA chief Norman Chan Tak-lam braces for a global slowdown

Norman Chan says the property market remains red hot and the grip on mortgage lending cannot be relaxed. Photo: Dickson Lee

Norman Chan Tak-lam, the Hong Kong Monetary Authority's CEO, is cautious about risks related to the tough global economic conditions facing the city, as well as the local real estate bubble.

20 Aug 2012 - 5:37am

The Norman conquests

Norman Chan has a bird's-eye view of Hong Kong from his office on the top floor of Two IFC, from where he rules the roost at the HKMA. Photo: Dickson Lee

As a boy, Hong Kong Monetary Authority chief executive Norman Chan Tak-lam wasn't given many toys.

But he had a plentiful supply of pencils and stationery awarded to him by his teachers for his outstanding academic work.

20 Aug 2012 - 4:51am

Ex-HKMA chief may face censure over minibonds

The former chief of the Hong Kong Monetary Authority (HKMA) Joseph Yam Chi-kong is likely to be reprimanded in an investigation report to be released by lawmakers today on the Lehman Brothers minibond scandal.

6 Jun 2012 - 12:00am

Skills training to bank the job

Banking professionals are in an industry that requires constant upgrades to their skills to meet the demands in the financial market.

24 Sep 2011 - 12:00am

HK in big sell on yuan services

Hong Kong Monetary Authority chief executive Norman Chan has tried to entice the City of London to co-operate in delivering yuan products and services to Europe.

Chan made his appeal at an investment symposium attended by more than 1,700 companies in London on Tuesday, the largest overseas trade event organised by the Hong Kong Trade Development Council.

15 Sep 2011 - 12:00am

If we're going to keep the peg, let's be honest about the costs

In the past few days both Financial Secretary John Tsang Chun-wah and Monetary Authority chief Norman Chan Tak-lam have spoken out to defend Hong Kong's currency peg to the US dollar.

16 Aug 2011 - 12:00am

Growth in yuan deposits slows significantly

Month-on-month growth in yuan deposits in Hong Kong decelerated last month, with deposits expanding by only 4.8 billion yuan compared to the 46 billion yuan monthly average of the first five months of the year, Monetary Authority chief executive Norman Chan Tak-lam said in his latest blog post. Yuan deposits had grown to 550 billion yuan at the end of last month.

29 Jul 2011 - 12:00am

HKMA chief pockets HK$8.4m pay packet

Norman Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, received HK$8.4 million in pay and benefits last year.

That was more than the combined earnings of the bosses of the European Central Bank and America's Federal Reserve, Jean-Claude Trichet and Ben Bernanke.

22 Apr 2011 - 12:00am

Regulator calls on banks to detail year's lending plans

The Hong Kong Monetary Authority has stepped up efforts to monitor banks' lending plans for the rest of 2011 after rapid growth in lending last year and in January and February.

12 Apr 2011 - 12:00am

Who says central bankers are boring?

The French have menages a trois, Americans a threesome, in Cantonese, it is 3P as in three persons.

So when Monetary Authority chief Norman Chan Tak-lam (pictured) said at a recent lecture on management science that he was going to talk about 'the 3Ps', members of the audience who were in danger of falling asleep were jolted out of their slumber.

11 Sep 2010 - 12:00am

John Tsang heading to Beijing

Financial Secretary John Tsang Chun-wah will leave for Beijing on Sunday to meet central government officials responsible for financial and monetary matters. He will be accompanied to the capital by the Secretary for Financial Services and the Treasury, Professor Chan Ka-keung, and the chief executive of the Hong Kong Monetary Authority, Norman Chan Tak-Lam.

1 Jan 2010 - 12:00am

Tighter loan caps expected for luxury homes

Guidelines that will place tighter restrictions on home financing in the luxury property market are expected soon, although banks may be given a grace period to comply, banking sources say.

22 Oct 2009 - 12:00am

Lawmakers claim Norman's conquest was a done deal

Lawmakers remain dissatisfied about how the HKMA chief executive was chosen, saying candidates did not have a chance to make a case for themselves.

This highlighted the lack of transparency involved in the process.

18 Jul 2009 - 12:00am