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ADVISORY COMMITTEES

Mr Patrick Wang Mr Victor Lo Professor Richard Wong Mr Mervyn Davies Mr Marvin Cheung Mr Joseph Yam

THE EXCHANGE FUND ADVISORY COMMITTEE

Chairman Members

The Hon. Ying Yen, GBS, JP Mr Joseph Yam, GBS, JP The Financial Secretary The Monetary Authority (from 4 August 2003)

Dr The Hon. David Li Kwok Po, LLD, GBS, JP The Hon. Antony Leung, GBS, JP Chairman and Chief Executive The Financial Secretary The Bank of East Asia Limited (until 16 July 2003)

Mr Marvin Cheung Kin Tung, DBA Hon., SBS, JP

Mr David Eldon, JP Chairman The Hongkong and Shanghai Banking Corporation Limited MONETARY AUTHORITY ANNUAL REPORT 2003 15

Mr Henry Tang Dr David Li Mr David EldonDr James Kung Mr Christopher Cheng Mr Robert Tang Mr He Guangbei

Mr E Mervyn Davies Mr Robert C Tang, SC, JP Group Chief Executive Barrister-at-Law Standard Chartered PLC

Mr Patrick Wang Shui Chung, JP Dr James Z M Kung, GBS Chairman and Chief Executive Officer Chairman Johnson Electric Holdings Limited Chekiang First Bank Limited Mr He Guangbei Professor Richard Y C Wong, SBS, JP Vice Chairman & Chief Executive Dean, Faculty of Business and Economics Bank of China (Hong Kong) Limited The (from 26 June 2003)

Mr Christopher Cheng Wai Chee, JP Dr Liu Jinbao Chairman Vice Chairman & Chief Executive USI Holdings Limited Bank of China (Hong Kong) Limited (until 28 May 2003)

Mr Victor Lo Chung Wing, GBS, JP Chairman and Chief Executive Gold Peak Industries (Holdings) Limited Secretary Mr Christopher Munn 16 ADVISORY COMMITTEES

THE EXCHANGE FUND ADVISORY COMMITTEE SUB-COMMITTEE ON CURRENCY BOARD OPERATIONS

Chairman Professor Richard Y C Wong, SBS, JP Dean, Faculty of Business and Economics Mr Joseph Yam, GBS, JP The University of Hong Kong The Monetary Authority Mr John Greenwood Group Chief Economist Members INVESCO Asset Management Limited

Mr Norman Chan, SBS, JP Deputy Chief Executive Professor Tsang Shu Ki Hong Kong Monetary Authority Department of Economics Hong Kong Baptist University Mr William Ryback Deputy Chief Executive Mr Raymond C F Or Hong Kong Monetary Authority Chairman (from 27 August 2003) The Hong Kong Association of Banks

Mr David Carse, SBS, JP Deputy Chief Executive Secretary Hong Kong Monetary Authority (until 30 September 2003) Mr Christopher Munn

Dr The Hon. David Li Kwok Po, LLD, GBS, JP Chairman and Chief Executive The Bank of East Asia Limited

Mr Marvin Cheung Kin Tung, DBA Hon., SBS, JP HONG KONG MONETARY AUTHORITY ANNUAL REPORT 2003 17

THE EXCHANGE FUND THE EXCHANGE FUND ADVISORY COMMITTEE ADVISORY COMMITTEE REMUNERATION AND FINANCE AUDIT SUB-COMMITTEE SUB-COMMITTEE

Chairman Chairman

Mr Marvin Cheung Kin Tung, DBA Hon., SBS, JP Mr Marvin Cheung Kin Tung, DBA Hon., SBS, JP

Members Members

Professor Richard Y C Wong, SBS, JP Mr David Eldon, JP Dean, Faculty of Business and Economics Chairman The University of Hong Kong The Hongkong and Shanghai Banking Corporation Limited

Mr Christopher Cheng Wai Chee, JP Mr E Mervyn Davies Chairman Group Chief Executive USI Holdings Limited Standard Chartered PLC

Mr Victor Lo Chung Wing, GBS, JP Mr He Guangbei Chairman and Chief Executive Vice Chairman & Chief Executive Gold Peak Industries (Holdings) Limited Bank of China (Hong Kong) Limited (from 26 June 2003)

Mr Robert C Tang, SC, JP Barrister-at-Law Dr Liu Jinbao Vice Chairman & Chief Executive Bank of China (Hong Kong) Limited Mr Patrick Wang Shui Chung, JP (until 28 May 2003) Chairman and Chief Executive Officer Johnson Electric Holdings Limited Secretary Secretary Mr Christopher Munn Mr Christopher Munn 18 ADVISORY COMMITTEES

THE BANKING ADVISORY COMMITTEE

Chairman Mrs Angelina P L Lee, JP Partner The Hon. Henry Tang Ying Yen, GBS, JP Woo, Kwan, Lee & Lo The Financial Secretary Solicitors and Notaries (from 4 August 2003)

Dr The Hon. David Li Kwok Po, LLD, GBS, JP The Hon. Antony Leung, GBS, JP Chairman and Chief Executive The Financial Secretary The Bank of East Asia Limited (until 16 July 2003) Mr Tatsuo Tanaka Director and Chief Executive Officer for China Ex Officio Member The Bank of Tokyo-Mitsubishi, Ltd. (from 8 July 2003) Mr Joseph Yam, GBS, JP The Monetary Authority Mr Samuel N Tsien President and Chief Executive Officer Members Bank of America (Asia) Limited

The Hon. Frederick Ma Si Hang, JP Mr David S Y Wong, JP Secretary for Financial Services and the Treasury Chairman Dah Sing Bank Limited Mr He Guangbei Vice Chairman & Chief Executive Ms Maria Xuereb Bank of China (Hong Kong) Limited Financial Services Partner Representing Bank of China (Hong Kong) Limited Deloitte Touche Tohmatsu (from 29 May 2003)

Mr Tomonori Kobayashi Mr Raymond C F Or Executive Officer and General Manager General Manager Hong Kong Branch The Hongkong and Shanghai Banking Corporation Limited Mizuho Corporate Bank, Ltd Representing The Hongkong and Shanghai Banking (until 1 April 2003) Corporation Limited

Dr Liu Jinbao Mr Peter T S Wong, JP Vice Chairman & Chief Executive Director Bank of China (Hong Kong) Limited Standard Chartered Bank Representing Bank of China (Hong Kong) Limited Representing Standard Chartered Bank (until 28 May 2003)

Mr Didier Balme Head of North & East Asia Secretary BNP Paribas Ms Carman Chiu Mrs Chan Hui Dor Lam Doreen President & Chief Executive Officer Citic Ka Wah Bank Limited HONG KONG MONETARY AUTHORITY ANNUAL REPORT 2003 19

THE DEPOSIT-TAKING COMPANIES ADVISORY COMMITTEE

Chairman The Hon. Eric K C Li, GBS, JP Senior Partner The Hon. Henry Tang Ying Yen, GBS, JP Li, Tang, Chen & Co The Financial Secretary Certified Public Accountants (from 4 August 2003) Mr Geoffrey J. Mansfield The Hon. Antony Leung, GBS, JP Director and Chief Executive The Financial Secretary PrimeCredit Limited (until 16 July 2003) (from 1 June 2003)

Mr Mok Wai-kin Ex Officio Member Director Hang Seng Finance Limited Mr Joseph Yam, GBS, JP The Monetary Authority Mr Poon Kwok Yuen President & Chief Executive Officer Members AIG Finance (Hong Kong) Limited (from 9 December 2003) The Hon. Frederick Ma Si Hang, JP Secretary for Financial Services and the Treasury Mr Tan Yoke Kong General Manager Mr Andrew Sheng, SBS, JP JCG Finance Company, Limited Chairman Securities and Futures Commission Mr Frank J. Wang Representing The Securities and Futures Commission Deputy Chief Executive Wing Hang Finance Company Limited Mrs Pamela Chan Wong Shui, BBS, JP (from 1 June 2003) Chief Executive Consumer Council Mr Jackson Cheung Representing The Consumer Council Chief Executive (from 1 June 2003) Société Générale Asia Limited (until 31 May 2003) Mr Clifford Forster Chairman Mr Randolph Sullivan Hong Kong Association of Restricted Licence Banks and Managing Director Deposit-Taking Companies (The DTC Association) Dao Heng Finance Limited Representing The DTC Association (until 31 May 2003)

Mr Mohan Kohli Mr Kotaro Takamori Partner Managing Director Financial Services Division ORIX Asia Limited PricewaterhouseCoopers (until 1 September 2003)

Mr Andrew Kuo Managing Director Secretary J.P. Morgan Securities (Asia Pacific) Limited (from 1 June 2003) Ms Carman Chiu