Hong Kong sets yuan-trading timeline, backing Beijing’s push to boost currency’s use
Hong Kong’s securities regulator aims to include a yuan-trading counter in a cross-border channel linked with mainland Chinese investors by July 1, marking the latest step in the city’s efforts to advance the internationalisation of the Chinese currency. The measure, announced on Wednesday, is part of a strategic action plan unveiled by the Securities and Futures Commission (SFC) to support the implementation of Hong Kong’s first five-year plan and the 2026 policy address presented by Chief...
Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency
Hong Kong’s securities regulator aims to include a yuan-trading counter in a cross-border channel linked with mainland Chinese investors by July 1, marking the latest step in the city’s efforts to advance the internationalisation of the Chinese currency.
The measure, announced on Wednesday, is part of a strategic action plan unveiled by the Securities and Futures Commission (SFC) to support the implementation of Hong Kong’s first five-year plan and the 2026 policy address presented by Chief Executive John Lee Ka-chiu last week.
“We hope that Hong Kong will not only serve as a hub for yuan products but also become the platform of choice for yuan asset allocation and risk management,” SFC chairman Kelvin Wong Tin-yau said at a media briefing on Wednesday.
