On the move



Hong Kong's financial secretary John Tsang has unveiled Norman Chan as the new chief executive of the Hong Kong Monetary Authority (HKMA). He will replace Joseph Yam, who has held the position since 1993.

Chan had previously worked at the HKMA, having joined when it was established in 1993, and served as a deputy chief executive from 1996 onwards. In that position, Chan oversaw reserves management and international affairs. During 2003-2004 he was also responsible for monetary management

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