Mission
The HKDPB’s mission is to ensure that an efficient and effective DPS is in place in accordance with the DPS Ordinance (DPSO) and in line with international best practices.
Functions
Under section 5 of the DPSO, the HKDPB’s functions include:
Relationship with the Hong Kong Monetary Authority
According to section 6 of the DPSO, the HKDPB shall perform its functions through the Monetary Authority unless otherwise directed by the Financial Secretary. Hence, the Hong Kong Monetary Authority (HKMA) acts as an executive arm of the HKDPB in administering the DPS. Against this background, the HKMA has assigned a team of professional and support staff to assist the HKDPB in carrying out its functions.
The team is headed by an Executive Director of the HKMA, who is designated as the Chief Executive Officer of the HKDPB to oversee all day-to-day functions of the DPS. The HKMA also provides administrative support to the HKDPB, including accounting, administration, human resources and information technology, under detailed arrangements set out in a Memorandum of Understanding between the two organisations. The HKDPB reimburses costs incurred by the HKMA for such purposes on a cost recovery basis.
