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Yuan

Yuan
The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.
China’s bond market is drawing attention as investors assess the outlook for long-term yields. Photo: dpa
Bonds

Why Citi is betting on China’s 30-year bonds as US Treasury yields climb

Weak credit demand, policy support and easing supply pressures are expected to sustain demand for ultra-long Chinese debt, analysts say.

Hong Kong economy

Xi-Trump summit: Hong Kong’s Paul Chan predicts positive market response

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China travel

Before Apec meeting, China’s mobile-payment overhaul is helping foreigners spend

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Banking & finance

Macroscope | Who has the upper hand in financial markets, the US or China?

Against the rising resilience of Chinese markets, the sharp reappraisal of US debt and dollar risks makes the answer far from clear-cut.

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A cargo ship sails along the Huangpu River in Shanghai on September 23. The last time President Xi Jinping was in the US for a state visit in September 2015, China’s markets were in turmoil. This is not the case today. Photo: AFP
ETFs

ChinaAMC launches 3 Hong Kong ETFs as demand for targeted strategies grows

Funds eye potential mainland investor participation and could join ETF Connect within six months, asset manager says.

SFC

Hong Kong aims to add yuan trading counter to southbound Stock Connect by July 1

Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency.

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Banking & finance

Hong Kong maps out gold, bond and liquidity push to deepen offshore yuan use

HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity.

Participating in a panel discussion at Treasury Markets Summit 2026 are, from left, Justin Chan of HSBC, Darryl Ho of HKMA, Gregory Yu of HKEX, Patrick Wu of Credit Agricole and Annie Zhu of Bank of China (Hong Kong). Photo: Elson Li
Banking & finance

Will Hong Kong property market benefit as online financial firms get physical?

Online brokerages and digital banks are opening branches across city after a sharp drop in shop rents in prime locations.

Banking & finance

Digital yuan push quickens as Ant International spurs instant cross-border flows

The Shanghai-to-Hong Kong settlements worth hundreds of millions of yuan bypassed traditional channels and could accelerate Beijing’s broader yuan strategy.

Banking & finance

Hong Kong regulators to unveil next steps in new offshore yuan push

HKMA, SFC officials expected to outline new measures to deepen yuan usage and cross-border market links following meetings in Beijing.

The exchanges between policymakers and regulators are expected to pave the way for additional measures aimed at strengthening Hong Kong’s role as an offshore yuan trading centre, according to analysts. Photo: Shutterstock
China digital currency

Could Saudi Arabia’s mBridge exit dent China-led payments platform?

The departure sends political signal rather than materially threatens project, analysts say.

The logo of Saudi Central Bank. Photo: Shutterstock
Banking & finance

What does the rate increase by the US Fed mean for the Chinese yuan?

Analysts weigh whether Beijing is set to push ahead with a rate cut to bolster China’s economy despite the US Fed raising interest rates.

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Banking & finance

Fed rate hike risks worsening China’s economic divide

The first US interest rate increase in more than three years is unlikely to damp China’s surging tech exports while potentially worsening a squeeze on other manufacturers.

Banking & finance

How will Hong Kong’s new 5-year plan court global capital?

Expanded investment products and stronger mainland-market links aim to deepen Hong Kong’s wealth-management edge and lure more international investors.

While much of the world’s gold trading still clears through London, Hong Kong is building a regional alternative. Photo: Dickson Lee
John Lee policy address 2026

Hong Kong targets gold trading, FPS-UnionPay link to boost yuan use

‘We will consolidate and enhance Hong Kong’s status as an international financial centre,’ John Lee says.

The HKMA will promote linking the Faster Payment System with mainland China’s bank card and payment system UnionPay by the end of the year. Photo: Nora Tam
John Lee policy address 2026

14 key takeaways from John Lee’s policy address, Hong Kong’s first 5-year plan

Chief executive lays out how the five-year plan will align the city more closely with the national development blueprint.

Brics

Brics pivots to pragmatic de-dollarisation via payment links: analysts

Analysts say lack of movement towards a common currency reflects a more pragmatic approach to reducing reliance on US dollar.

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China trade

Kazakhstan to launch QR payments with China, expanding yuan’s reach in retail

Planned launch follows existing cooperation between super apps Alipay and Kaspi.kz, letting travellers use home-country app at certain merchants without exchanging cash.

A man demonstrates in April how a QR code is used to make a retail payment with the Alipay app in Indonesia. Kazakhstan now plans to launch QR-code payments with China by the end of this year. Photo: Xinhua
China’s private sector

Open Questions | Veteran investor Fang Fenglei on why China’s ‘investibility’ remains a certainty

Influential financier who helped found CICC says arguments against China investment ‘do not hold water’.

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Mainland China

Open Questions | Private equity’s Fang Fenglei on investing in China

Veteran investor considers China’s economic strengths, assets that appeal, future yuan appreciation and policymakers’ ability to solve problems.

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Banking & finance

Why Hong Kong banks see mainland Chinese investors as key to wealth growth

The city will continue to serve as a vital platform linking mainland China with international capital, Hong Kong Association of Banks says.

Mainland China’s share of local assets under management is projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks and Deloitte China. Photo: Jelly Tse
China economy

Opinion | Why China is steering clear of the US’ ‘exorbitant privilege’ model

Beijing is decoupling the internationalisation of the yuan as a transactional currency from the role of an unconstrained global reserve store of value.

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An employee counts 100-yuan notes at a bank in Beijing in November 2024. Photo: AFP
Banking & finance

Record China-US gap in bond yields unlikely to trigger capital flight: Marsh

Executives say dollar dominance remains intact as borrowers diversify funding and use offshore yuan bonds to help manage elevated US financing costs.

Banking & finance

Investment surge in Central Asia drives calls for Chinese yuan use

Use of the currency can cut risks and costs for infrastructure firms active in the mineral-rich region, according to speakers on an investment panel.

Banking & finance

Yuan use grows as supply chains reshape global trade, Deutsche Bank says

Europe’s first foreign RMB clearer says Chinese firms’ overseas expansion is strengthening the currency’s role in cross-border commerce.

Growing cross-border trade and more flexible supply chains are driving wider use of the yuan, even as the US dollar retains its dominant role in global payments. Photo: dpa
Banking & finance

China’s capital injection steels banks, insurers for rough road ahead

US$54 billion recapitalisation comes amid squeeze on commercial banks’ earnings and push for insurers to bolster the liquidity of Chinese stock markets.

Photo: Getty Images
Banking & finance

Chinese firms’ green-tech expansion hinges on Hong Kong: bankers

Offshore yuan liquidity makes city a ‘superconnector’, but finding projects with strong returns is now the challenge, senior bankers say.

Banking & finance

Hong Kong has yuan to spare. Can it create more global demand?

Regulators want banks to channel more offshore yuan into global markets, as the city pushes to deepen the currency’s role in international finance.

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