Beijing and Hong Kong authorities on Tuesday announced a broad package of measures aimed at strengthening Hong Kong's position as the leading offshore yuan hub, expanding cross-border financial market connectivity and enhancing the city's role in global currency, bond and gold trading, according to Reuters.
The initiatives include expanding the southbound Bond Connect quota, increasing yuan liquidity support for Hong Kong, launching a new gold clearing infrastructure and introducing measures to deepen bond and foreign exchange trading. The announcements come as China steps up efforts to internationalise the yuan amid growing geopolitical tensions and shifting global investment flows.
