Reported 1 day ago
China is planning to significantly increase its foreign exchange reserves allocation to Hong Kong, potentially tripling the current amount to bolster financial stability and market sentiment. This move, hinted at by the People's Bank of China, aims to enhance Hong Kong's role as a financial hub amidst geopolitical tensions and help mitigate risks associated with US Treasury investments. With estimates suggesting up to 50% of reserves could eventually be allocated to Hong Kong, this strategy reflects a broader effort to diversify investments while reinforcing the currency board's credibility.
Source: YAHOO