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In response to press enquiries, the Financial Secretary, Mr John C Tsang, said today (October 16):
¡°There has been speculation over the last day or so about the future of Mr Joseph Yam as the Monetary Authority, and I would like to clarify the position.
¡°Joseph¡¯s experience and expertise in monetary and financial affairs are an enormous asset to Hong Kong, particularly during this time of global financial crisis.
¡°His hard work over the years to reinforce Hong Kong¡¯s financial system and his contingency planning are now showing their full value. Joseph¡¯s clear vision and wise judgment are essential to helping Hong Kong deal with the present crisis and its aftermath.
¡°Joseph and I have been working closely and productively since July last year. We are now working even more closely together during this difficult period. I look forward very much to continuing to work with him both through and beyond the present stormy times.¡±
Ends/Thursday, October 16, 2008
Issued at HKT 20:13
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