Hong Kong has maintained a currency board system, fixing the value of the Hong Kong dollar to the US dollar since 1983. Although Hong Kong maintains a separate currency, that currency link creates a monetary union with the US. Hong Kong’s success in managing that monetary union has been due to following eight rules. The first three are the necessary, but not sufficient, conditions for the success of any monetary union; the remaining five have helped to make the Hong Kong dollar-US dollar peg more robust.
香港施行的是一种货币发行局制度(Currency board system),1983年以来一直将港元币值与美元挂钩。虽然香港仍然维持着独立的货币,但这种联系汇率制度使之与美国构成了一个货币联盟。香港之所以能够成功地管理这个货币联盟,应归功于以下8条原则。前3条原则是任何货币联盟取得成功的必要条件,但不是充分条件。而其余5条原则使得港元与美元的联系汇率能够更加稳固。