Wednesday, January 19, 2022
Martin Hennecke

Call to boost SAR's yuan role
<p>Hong Kong has unique competitive edges for it to be positioned as an offshore yuan center, an environmental, social and governance investment hub and for digital asset trading and management operations, says a joint report by Haitong International Securities (0665) and the One Country Two Systems Research Institute.</p><p>The internationalization of China&#39;s currency is seen to provide a long-term track for the offshore yuan market in Hong Kong as two thirds of the mainland&#39;s inward and outward direct investment and most of its financial moves are made via the SAR, the report states.</p><p>So the recommendation by the report&#39;s compilers is that Hong Kong should strengthen its role as a hub for yuan business.</p><p>Peter Lee Ka-kit, who chairs the One Country Two Systems Research Institute and is a co-chair of Henderson Land Development (0012), also said that Hong Kong as a financial hub should brace for change in preparing for rainy days.</p>

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