HKMA’s Chan allays concerns over marginalisation of HK dollar

Central Banking Newsdesk
31 May 2011

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Norman Chan, the chief executive of the Hong Kong Monetary Authority, on Monday said suggestions from commentators that offshore renminbi business might marginalise the Hong Kong dollar were ill-founded.

"With Hong Kong's development as an offshore renminbi centre gradually taking shape, some commentators have expressed concerns about the potential risks that might arise from such rapid development of our renminbi business, including the substitution of renminbi for the Hong Kong dollar, or in

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