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.
香港施行的是一種貨幣發行局制度(Currency board system),1983年以來一直將港元幣值與美元掛鉤。雖然香港仍然維持著獨立的貨幣,但這種聯繫匯率制度使之與美國構成了一個貨幣聯盟。香港之所以能夠成功地管理這個貨幣聯盟,應歸功於以下8條原則。前3條原則是任何貨幣聯盟取得成功的必要條件,但不是充分條件。而其餘5條原則使得港元與美元的聯繫匯率能夠更加穩固。