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Hong Kong will improve offshore yuan liquidity, facilitate the circulation of yuan between offshore and onshore markets and promote RMB internationalization, said Paul Chan Mo-po, Financial Secretary of Hong Kong during the Financial Street Forum on Thursday.

The authority will promote the innovation of offshore yuan products, including diversified yuan-denominated bonds and wealth management products, as well as increase the demand for issuing and trading yuan securities, said Chan.

A joint working group is studying the southbound trading of 'Shanghai-Shenzhen-Hong Kong Stock Connect' to be denominated in yuan, Chan noted. The authority will also study the gradual expansion of the scale and scope of cross-border use of offshore yuan in the Greater Bay Area and promote yuan asset transactions in the region.