Hong Kong yuan facility to expand 150% to US$73.6 billion to meet international demand
Hong Kong will substantially increase its yuan facilities for banks from this Friday, while the city will also introduce a new electronic fixed income and currency (FIC) trading system as part of its latest efforts to promote yuan trading, according to local market regulators on Tuesday. Hong Kong Monetary Authority (HKMA) would increase the quota of its RMB Business Facility for banks by 1.5 times to 500 billion yuan (US$73.6 billion) from this Friday, according to its chief executive Eddie Yue...
Read the full story at Business - South China Morning Post →EUROS aggregates the world's financial press. The full article lives with the newsroom that reported it.
