Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong received a boost in his emoluments last year, receiving between $8 million and $8.5 million, according to the annual report. The 1996 report showed his remuneration at between $7 million and $7.5 million. His earnings are more than three times the $2.45 million earned by Financial Secretary Donald Tsang Yam-kuen, although Mr Tsang's salary does not include housing and other benefits. Two other authority employees, believed to be deputy chief executives David Carse and Andrew Sheng Len-tao, received $5.5 million to $6 million. Another, thought to be deputy chief executive Norman Chan Tak-lam, earned $4.5 million to $5 million.