✉news BusinessEconomy first seen 23 h ago, last 23 h ago, peak #31
Hong Kong seeks bigger role for yuan in regional trade
Original: Hong Kong seeks bigger role for yuan in regional trade, treasury chief says
Hong Kong's treasury chief has said the city is working to expand the use of the Chinese yuan in regional trade settlement. The financial hub aims to build on its position as the main offshore centre for yuan transactions, promoting the currency as an alternative to the US dollar for trade among Asian economies, according to the South China Morning Post.
Why now: Ongoing efforts to internationalise the yuan and reduce reliance on the US dollar are drawing attention in global financial circles.
Evidence
- Hong Kong seeks bigger role for yuan in regional trade, treasury chief says · South China Morning Post
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