HKMA deputy dismisses yuan competition fears

eddie-yue

A deputy chief executive of the Hong Kong Monetary Authority (HKMA), Eddie Yue, said the growth in offshore renminbi business in financial centres other than Hong Kong does not mean the territory will lose market share.

Speaking at a Hong Kong Institute of Bankers annual conference on September 13, the central bank official said despite market expectations of less appreciation of the renminbi against other currencies compared with previous years, a growing portion of China's trade and investment

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