Hong Kong Monetary Authority

Press Release Hong Kong Institute for Monetary Research The Hong Kong Institute for Monetary Research (HKIMR) announced today (Thursday) the appointment of eight prominent international scholars to its Council of Advisers. They include:   Professor Fan Gang Director, National Economic Research Institute and Director, China Reform Foundation   Professor Charles Goodhart Norman Sosnow Professor of Banking and Finance The London School of Economics and Political Science   Mr David Hale Chief Global Economist Zurich Insurance Group   Professor Ron McKinnon William D Eberle Professor of International Economics Economics Department Stanford University   Dr Alice Rivlin Senior Fellow, Economic Studies The Brookings Institution   Professor Jeffrey Sachs Director Center for International Development Harvard University   Professor Eisuke Sakakibara Professor Keio University   Mr Glenn Stevens Assistant Governor (Economic) Reserve Bank of Australia   "The Institute is greatly honoured to have eight renowned international scholars as its advisers. As part of its research programme, the Institute will study global and regional developments that may have significant implications for Hong Kong. The appointment of international advisers strengthens the international dimension of our research activities. It also helps to promote the international image of the Institute," said Mr Joseph Yam, Chairman of the HKIMR. Separately, the composition of the Board of Directors has been completed with the appointment today of two more directors, Mr Wang Xue-bing, Chairman and President of Bank of China and Mr Henry Tang Ying-yen, Managing Director of Peninsula Knitters Limited. The HKIMR was established in August 1999, with the objective of conducting research in the fields of monetary policy, banking and finance that is of strategic importance to Hong Kong and the Asian region. Good progress has been made in the preparatory work. An inaugural conference is planned for mid-December. Research activities are expected to commence early next year.   Hong Kong Institute for Monetary Research 28 October 1999

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