HONG KONG: China will push to expand global investors' access to yuan assets and promote Hong Kong as a hub for international use of the Chinese currency, a top policy official said on Tuesday.
"We should give full play to the role of currency swap arrangements and provide stable and multi-level RMB liquidity support to the offshore market," People's Bank of China Deputy Governor Zou Lan said at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit on Tuesday.
"China has promoted high-level opening-up and insisted that the market play a decisive role in the formation of the exchange rate. It will help reduce the uncertainty of cross-border economic and trade activities, stabilise investment expectations." - Reuters
