appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Enoch Yiu

Bourse operator Hong Kong Exchanges and Clearing (HKEX) will launch yuan-denominated gold futures early next year, while the city’s de facto central bank plans to introduce more yuan products and platforms to support the diversification and digitalisation of the currency’s internationalisation, speakers at a banking summit said on Wednesday.
“We have recently reactivated our gold contract in the US dollar. But in the future, perhaps sometime early next year, we will be coming up with a yuan-denominated gold futures contract,” said Gregory Yu, managing director and head of markets at HKEX, at the Treasury Markets Summit 2026, which was attended by hundreds of bankers.
“We will continue to build various precious metals and other commodities products denominated in offshore yuan.”
HKEX’s move is aimed at advancing two priorities outlined in the city’s first five-year plan announced last week: promoting yuan internationalisation and developing Hong Kong’s gold market.
The yuan, also known as renminbi (RMB), is not yet freely convertible, but Beijing has spent the past decade promoting wider international use of the currency for trade settlement and investment.
It is about how banks and corporations can use the yuan in the real economy
Darryl Ho, HKMA
The planned launch of the yuan gold futures comes after Chief Executive John Lee Ka-chiu, in his policy address last week, indicated that the Exchange Fund – the city’s reserve used to defend the local currency – would increase investment in local gold products.
Speaking at the same summit, Hong Kong Monetary Authority (HKMA) chief executive Eddie Yue Wai-man said the de facto central bank would explore a seven-day offshore yuan liquidity mechanism to address banks’ short-term funding needs.
The authority would also introduce measures to support tokenisation in the local bond market, including for yuan-denominated bonds, he added.
“We are planning to issue offshore RMB short-term debt instruments to provide the market with more high-liquidity management products and strengthen the offshore RMB yield curve,” Yue said.
He said the measures were needed because diversification and digitalisation would drive the next stage of yuan internationalisation and bond-market development in Hong Kong, which has recorded strong growth in recent years with support from Beijing’s policies.
“For investors, there is a need for a much wider range of products for asset allocation, hedging and liquidity management,” Yue said.
“As yuan-denominated fixed income and currency trading grows and further expands, it will draw upon the liquidity expertise of the offshore yuan market in Hong Kong, and financial practitioners in Hong Kong will find business opportunities in actively offering yuan funding and other treasury solutions to clients.”
Yue also said Hong Kong, which is taking the lead in digital finance, would foster innovative solutions and infrastructure for digital yuan bonds to reduce costs and enhance efficiency.
“We are collaborating with the industry to drive wider adoption, positioning Hong Kong as the leading hub for global tokenised bond issuers,” he said.
Darryl Ho, executive director of HKMA, said the internationalisation of the yuan has reached its last mile.
“The last mile is really between the financial services provider and the end users,” Ho said. “It is about how banks and corporations can use the yuan in the real economy.”
He added that Chinese corporations were making direct yuan investments in overseas markets, which would also support yuan internationalisation. Hong Kong, as a gateway connecting the world with mainland China, would play a key role in this process.
As of December, Hong Kong remained the world’s largest offshore yuan market, accounting for 74.6 per cent of offshore yuan payments, followed by Britain with 7 per cent, according to settlement network Society for Worldwide Interbank Financial Telecommunication, or Swift.
Hong Kong’s banks also held 1 trillion yuan (US$149 billion) in bank deposits, the largest offshore yuan pool.


How China’s growing Reit sector is giving foreign property investors a route back in

Led by China and US borrowing, the world now owes a record US$365 trillion debt: IIF

Bad money decisions are coming home to roost for the US and Japan

Hong Kong sets yuan trading timeline, backing Beijing’s push to boost currency’s use

Banking & finance

Hong Kong unveils gold, bond and liquidity plans to drive next phase of yuan adoption

Participating in a panel discussion at Treasury Markets Summit 2026 are, from left, Justin Chan of HSBC, Darryl Ho of HKMA, Gregory Yu of HKEX, Patrick Wu of Credit Agricole and Annie Zhu of Bank of China (Hong Kong). Photo: Elson Li

Exchange Fund weighs bigger gold holdings to support Hong Kong’s trading hub plan

Hong Kong Monetary Authority chief executive Eddie Yue Wai-man. Photo: Edmond So

After US rate hikes, HKMA says Hong Kong dollar could come under pressure

The HKMA office at Two International Finance Centre in Central. Photo: Jelly Tse

The Hong Kong Monetary Authority office in Central. Photo: Jelly Tse

Hong Kong yuan facility to expand 150% to US$73.6 billion to meet international demand

HKMA chief executive Eddie Yue and SFC CEO Julia Leung at a media briefing at the Hong Kong FIC & Bond Connect Summit in Admiralty on Tuesday. Photo: Sun Yeung

Chinese yuan banknotes. Hong Kong is set to substantially increase its yuan facilities from this Friday. Photo: dpa

Hong Kong regulators to flesh out new yuan strategy after Beijing meetings

The exchanges between policymakers and regulators are expected to pave the way for additional measures aimed at strengthening Hong Kong’s role as an offshore yuan trading centre, according to analysts. Photo: Shutterstock

How Hong Kong’s new 5-year plan courts global capital with an eye on market dominance

While much of the world’s gold trading still clears through London, Hong Kong is building a regional alternative. Photo: Dickson Lee

Business

Banking & Finance

Commodities

China Business

Markets

News

HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity


HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity.


Hong Kong unveils gold, bond and liquidity plans to drive next phase of yuan adoption

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity

HKEX to launch yuan gold futures as HKMA eyes new products and platforms to expand offshore market activity