CNews Issue 3, 2009

29 Convocation Convocation Standing Committee Election at Ordinary General Meeting June 22, 2009 Convocation of The University of Hong Kong is a statutory body comprising all graduates and teaching staff of the University. The Standing Committee consists of 24 members who are all elected from and by members of Convocation. Three members Mr Choi Sau-yuk 蔡秀煜 (BSocSc 1972), Mr Alex Lai Chun-hung 賴振鴻 (BScEng 1985) RMB, Present and Future After the Ordinary General Meeting, Dr Cui Li 崔歷 , Head (External) of the Hong Kong Monetary Authority, shared with Convocation members her views on the RMB’s role in the present and in the future. Cui said that the RMB has become more free compared with ten years ago yet there are many restrictions remaining, such as limited convertibility for capital account transactions and official trade settlement, which is permitted in hard currencies only. Cui also shared with the audience how Hong Kong has been a testing ground for the initiatives of using the RMB outside the Mainland and has developed the capacity to handle RMB transactions; hence, she believes Hong Kong is well positioned to handle a large part of the offshore RMB business and to enhance the international status of the RMB in future. Revisit the key points of Dr Cui Li at Convocation website: www.hku.hk/convocat and Dr Victor Ng Hon 吳瀚 (BEng[EEE] 1999) were elected to the Standing Committee and will hold office with immediate effect, after the Ordinary General Meeting on June 22, 2009 to the Ordinary General Meeting 2012. List of Standing Committee members: http://www.hku.hk/convocat/committee/committee1.htm Why the rising call for the greater use of the RMB? How to increase the international status of the RMB? Why will it take time for the RMB to become an international currency? What does this mean for Hong Kong?