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Yam was Hong Kong's first central banker and occupied the post from the authority's establishment in 1993.
The People's Bank of China in December recruited him to be an executive vice-president of an advisory body to the central bank.
It will also launch educational programs related to global finance and banking issues, such as the internationalization of the yuan.
Besides Yam, the institute has enlisted top professionals and academics including Nobel Prize-winning economists James Mirrlees and Robert Mundell.
The MTR Corp's HK billion Nam Cheong Station project has attracted interest from 12 developers - four more than when it was first launched five years ago.
At a university event to announce his appointment yesterday, Yam slipped easily back into central banker mode, offering his views on the outlook for the yuan.
After attended a China/Hong Kong Business/Trade Seminar in Hawaii...still unsure what to do next, contact us, our Officers, Directors and Founding Members are actively engaged in China/Hong Kong/Asia trade - we can help!BRENDA FOSTER, PRESIDENT OF THE AMERICAN CHAMBER OF COMMERCE IN SHANGHAI; "An Update of the Business Climate in China" to the Hong Kong China Hawaii Chamber of Commerce (HKCHcc) at the Pacific Club 2/14/2008 Former Hong Kong Monetary Authority chief executive Joseph Yam Chi-kwong, once the world's highest paid central banker, has a new job in academia.