A pedestrian walks past a backdrop of Hong Kong central business district. Hong Kong is concerned that its leading position as an international financial centre is not entirely secure unless it works relentlessly to advance its competitiveness - AFP Photo.
HONG KONG: A government body called on Hong Kong's authorities and regulators on Monday to take far reaching reforms to maintain the city's edge as a premier offshore yuan hub and a global financial centre.
In a document titled, “Proposals to advance the development of Hong Kong as an offshore renminbi centre”, the government body set out various areas to promote the city's role in the growing offshore yuan business ranging from relaxing restrictions for banks and individuals undertaking yuan trade.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
