Free Trial

MNI BRIEF: HK To Strengthen Offshore Yuan Business - John Lee

MNI (BEIJING)
MNI (Beijing)

Hong Kong will work to strengthen its offshore Yuan business to maintain its status as a leading financial and business hub, John Lee, Chief Executive of Hong Kong, said on Wednesday during his key policy address of 2023.

Lee said the government would press ahead with expanding Yuan counters under the Southbound Trading of Stock Connect scheme and facilitate the trading of Hong Kong stocks in Yuan. “We will take forward the introduction of offshore Mainland government bond futures and enrich the variety of Yuan investment products” Lee explained.

HKMA Chief Eddie Yue spoke recently about plans to enhance connection to the mainland and upgrade infrastructure for cross-border investment in a bid to maintain its role as the leading offshore yuan business hub. (See: MNI BRIEF: HK To Upgrade Role As Yuan Offshore Hub-HKMA's Yue - Bonds & Currency News | Market News)

China’s National Development and Reform Commission recently signed a memorandum of understanding with the HKMA regarding cooperation in Hong Kong’s bond market. (See: MNI BRIEF: NDRC Signs MoU With HKMA To Support Bond Market - Bonds & Currency News | Market News)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.