to explore the areas where we can work together to build a stronger nation. but actions speak louder than words. we call on the philippine business community to take a bigger stake in the country ’ s development. … build on the reform platform and favorable economic environment that we have worked hard with the government to create by taking the next steps where entrepreneurial dynamism drives greater economic gains. in summary, economic and fiscal achievements in 2006 have created a positive momentum for our country. a consistent implementation of reform measures by the government, particularly in the area of revenue generation and debt and expenditure management, coupled with a stable monetary environment and healthy banking sector, will support the government ’ s fiscal, growth and other macro and microeconomic targets for 2007. the tide is rising and i believe it will continue to do so for some time. now we must all row together in the same direction to ensure steady progress and a forward direction, even if the currents try to move us in a different direction or hinder our forward progress. we have a unique opportunity to make sure the tipping point lifts the boat, not tips it over. i am confident we are sailing in the right direction. thank you.

eddie yue : opening remarks - hong kong academy of finance 5th anniversary and financial leaders programme graduation ceremony opening remarks by mr eddie yue, chief executive of the hong kong monetary authority, at the hong kong academy of finance 5th anniversary and financial leaders programme graduation ceremony, hong kong, 13 december 2024. * * * a very warm welcome to all of you for joining us today to commemorate the 5th anniversary of the hong kong academy of finance ( aof ) and the 3rd financial leaders programme graduation ceremony. back in 2018, with the financial industry becoming increasingly globalised and complex, the financial secretary tasked the hong kong monetary authority ( hkma ) to commission an experts group to consider how to further enhance hong kong's " soft power " as an international financial centre ( ifc ). the experts group concluded that cultivating this " soft power " in practice required a robust talent pool in leadership ranks and a strong local research base to further elevate hong kong's competitiveness and profile as an ifc on the global stage. with this in mind, the aof was established in 2019 as a collaboration among the four financial regulators in hong kong, namely the hkma, the securities and futures commission, the insurance authority, and the mandatory provident fund schemes authority. the mission of the aof was twofold : ( i ) to serve as a centre of excellence for developing financial leadership ; and ( ii ) to act as a repository of knowledge in monetary and financial research, including applied research. three aof fellows – norman [ chan, senior adviser of the hong kong academy of finance ], moses [ cheng, non - official member of the executive council ], and tony [ neoh, co - chairman, the asian academy of international law ] – who played a significant role in conceptualising the idea of the aof, are here with us today, and will share their insights on the aof's progress in achieving its strategic objectives in a panel session later. before that, let me first share a few observations. in fact, the aof was born during a rather testing time back five years ago. right after its launch, hong kong faced a series of challenges from social unrest to the global pandemic. but through these adversities, the aof managed to stay nimble and innovative, and still succeeded in making meaningful progress across several key areas. firstly, the aof has built up a strong and diverse membership base comprising nearly 400 senior executives from across the financial