Key components of the IMF's surveillance of the financial system was established by Article IV of the IMF’s Articles of Agreement, as revised in the late 1970s following the collapse of the Bretton Woods system of fixed exchange rates. Under Article IV, member countries undertake to collaborate with the IMF and with one another to promote stability. For its part, the IMF is charged with (i) overseeing the international monetary system to ensure its effective operation, and (ii) monitoring each member's compliance with its policy obligations. 

The IMF Mission visited Hong Kong from 7-16 November 2012 16 for the 2012 Article IV Consultation with Hong Kong. It held discussions with government officials and private sector representatives. The full report of the Article IV consultation will be discussed by the IMF Executive Board in January 2013. On 11 December 2012, the IMF issued its preliminary findings from this consultation. Key findings included the following: global economic weakness is impacting Hong Kong and real GDP growth is projected to slow to 1¼ percent this year; inflation is expected to remain moderate, averaging 3¾ percent this year and 3½ percent next year; and there continues to be a sharp price in house prices. Housing prices have increased 20 percent so far this year and are now double the trough of 2008, raising the risk of an abrupt correction.