Hong Kong will increase its renminbi usage by issuing more yuan bonds and settling some government expenditures, paving the way for mainland Chinese investors to use the currency to trade locally listed stocks, a minister has said.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said on Thursday the move would address the question of how the city could use the yuan it received from various channels.
The city is the world’s largest offshore renminbi business hub.
Lee said Hong Kong would issue more yuan bonds and consider using the currency for government expenditures.
On Thursday, Hui said the new measures would pave the way for the inclusion of a yuan trading counter under the Stock Connect’s southbound trading scheme for Hong Kong stocks.
