Cross-Border Interbank Payment System – Charm

NPC deputy Li Yinquan is a veteran financier. Photo: Handout

Hong Kong tipped to be world’s top financial centre amid global yuan expansion plan

2 months ago02 mins

Hong Kong could emerge as the world’s leading financial centre as the central government pushes to internationalise the yuan – a move that will advance the nation’s development under the 15th five-year plan while also driving the city’s own growth, a National People’s Congress (NPC) deputy has said. Li Yinquan said the city stood to…

Should Hong Kong’s next budget make room for taking yuan global? Experts weigh in

2 months ago03 mins

With Hong Kong set to unveil its annual budget, economists have said the city should strengthen its role in pushing the internationalisation of the Chinese yuan as Beijing presses ahead with financial opening while keeping stability firmly in view. From expanding offshore yuan products to using its stablecoin regulations as a sandbox for potential cross-border…