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Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s central banking institution, established on 1 April 1993 by merging the Office of the Exchange Fund and...
Hong Kong Monetary Authority
The Hong Kong Monetary Authority (HKMA) is Hong Kong’s central banking institution, established on 1 April 1993 by merging the Office of the Exchange Fund and the Office of the Commissioner of Banking (per HKMA official website). Its four primary functions are maintaining currency stability within the Linked Exchange Rate System; promoting the stability and integrity of the financial system including banking; helping maintain Hong Kong’s status as an international financial centre including financial infrastructure; and managing the Exchange Fund (per HKMA About Us and Annual Report 2025). The Exchange Fund constitutes Hong Kong’s official foreign reserves and underpins monetary stability via the Currency Board. As of 31 May 2026, total assets of the Exchange Fund amounted to HK$4,390.7 billion (per HKMA press release, 30 June 2026). In 2025 the Fund recorded investment income of HK$331.0 billion and an overall investment return of 8.0%, with the Investment Portfolio returning 12.4% (per HKMA press release, 28 January 2026). The HKMA maintains high transparency through monthly abridged balance sheets, half-yearly performance updates, and detailed audited statements in its Annual Report. It is headed by Chief Executive Eddie Yue, JP (appointed October 2019), and operates with a high degree of autonomy while accountable to the Financial Secretary. Reserves management is conducted through the Exchange Fund Investment Office, segregating Backing and Investment Portfolios.
General information
Firm type
Sovereign Wealth Fund
Year founded
1993
AUM
$561B (end-May 2026)
Location
Region
Asia
Country
Hong Kong
City
Hong Kong
Corporate office
Hong Kong, Hong Kong
Additional offices
New York, NY, United States · London, UK
Principals
Eddie Yue, JP
Chief Executive
Arthur Yuen, JP
Deputy Chief Executive
Howard Lee, JP
Deputy Chief Executive (Reserves Management, Financial Infrastructure and Fintech)
Darryl Chan, JP
Deputy Chief Executive
Karen Kemp, JP
General Counsel
Albert Goh
Deputy Chief Executive Officer, Exchange Fund Investment Office
Sector focus
Frequently asked questions
What is the Hong Kong Monetary Authority?
The HKMA is Hong Kong’s central banking institution, responsible for currency stability under the Linked Exchange Rate System, financial system stability, international financial centre status, and management of the Exchange Fund (per HKMA official website).
When was the HKMA established?
The HKMA was established on 1 April 1993 by merging the Office of the Exchange Fund and the Office of the Commissioner of Banking (per HKMA About Us page).
Who is the current Chief Executive of the HKMA?
Eddie Yue, JP, has served as Chief Executive since 1 October 2019 (per HKMA Chief Executive’s Committee page).
Does the HKMA disclose detailed investment performance?
Yes. The HKMA publishes half-yearly investment income and return figures, monthly abridged balance sheets, and full audited financial statements of the Exchange Fund in its Annual Report (per HKMA reserves management pages and press releases).
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