On December 16, Chinese President Xi Jinping, on receiving a work report from Hong Kong Chief Executive John Lee Ka-chiu, said the city should proactively align with the country’s 15th five-year plan and better integrate into, and serve, the national development agenda. In recent days, discussion of the coming plan across the Hong Kong government…
Hong Kong dollar stablecoins could become a key link between China’s digital yuan and top global digital assets, potentially transforming cross-border investment and accelerating yuan internationalisation, according to Morgan Stanley. Local currency-backed stablecoins could provide a pathway for mainland China’s e-CNY – the country’s only legal digital currency backed by the government – to gain…
May 24, 2025 Amid rising geopolitical tensions and discussions on de-dollarisation, Hong Kong’s financial system is playing a pivotal role in promoting the internationalisation of the yuan. As reported by the South China Morning Post, the yuan’s potential to expand its global footprint is being explored by international businesses, particularly in Qatar. The affluent Middle…