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Hong Kong pushes local currency use to shield Asia from global uncertainties (www.scmp.com)

submitted 2 months ago by rss@news.abolish.capital to c/china@news.abolish.capital

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Hong Kong is ramping up efforts to expand the use of local currencies across the Asia-Pacific region, including developing a local currency debt market, as part of a push to hedge against rising geopolitical risks, according to Hong Kong Monetary Authority (HKMA) CEO Eddie Yue Wai-man. Speaking at the fourth edition of the Asean+3 Economic Cooperation and Financial Stability Forum in Hong Kong on Tuesday, Yue underlined the need to strengthen regional financial ties as Hong Kong and its...

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