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Hong Kong’s role in yuan internationalisation is expanding
['Scmp Editorial']
South China Morning Post
The presence of China Securities Regulatory Commission chairman Wu Qing at the launch ceremony at the Hong Kong stock exchange reflects that.
Wu said the latest opening of the mainland’s capital market to international investors also enhanced Hong Kong’s bridgehead role between China and the world.
It is a concerted effort to boost not only Hong Kong but also the mainland.
He said mainland financial institutions had been using Hong Kong to go global, including some that did not have operations in Beijing.
“We would like to see more dual listings with mainland firms to raise funds in Hong Kong, and encourage Hong Kong firms to list in the mainland,” Wu said.