Reported 2 days ago
Hong Kong is enhancing its role as an offshore yuan hub with the launch of a 100 billion yuan (US$14 billion) Renminbi Business Facility, allowing local businesses easier access to yuan loans at competitive rates. This initiative, part of broader regulatory measures, aims to promote the international use of the yuan, facilitate trade settlements, and strengthen Hong Kong’s financial markets, amid rising demand for yuan-denominated assets. The city's position as the largest offshore yuan market is further solidified by these developments, attracting more international investors and enhancing its liquidity.
Source: YAHOO