HONG KONG: A government body called on Hong Kong’s authorities and regulators 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, Financial Services Development Council 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. — Reuters
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