Hong Kong tipped to be world’s top financial centre amid global yuan expansion plan

Hong Kong could emerge as the world’s leading financial centre as the central government pushes to internationalise the yuan – a move that will advance the nation’s development under the 15th five-year plan while also driving the city’s own growth, a National People’s Congress (NPC) deputy has said. Li Yinquan said the city stood to benefit from increased capital as the yuan became more internationalised, since most global renminbi reserves and transaction volumes would naturally be held in H...

By Lam Ka-sing