appConfigEntityId

bodyType

customContents

entityId

entityUuid

isVideo

articlePageQuery

article

articleSchemaContent

content

hooksArticlePageAdvertisementConfigArticle

hooksArticlePageFloatingButtonConfigArticle

appConfig

filter

json

liveArticle

Themis Qi

Hong Kong’s securities regulator aims to include a yuan trading counter in a cross-border channel linked with mainland Chinese investors by July 1, marking the latest step in the city’s efforts to advance the internationalisation of the Chinese currency.
The measure, announced on Wednesday, is part of a strategic action plan unveiled by the Securities and Futures Commission (SFC) to support the implementation of Hong Kong’s first five-year plan and the 2026 policy address presented by Chief Executive John Lee Ka-chiu last week.
“We hope that Hong Kong will not only serve as a hub for yuan products but also become the platform of choice for yuan asset allocation and risk management,” SFC chairman Kelvin Wong Tin-yau said at a media briefing on Wednesday.
He stressed that strengthening the ecosystem of yuan-settled products was one of the three priorities of the SFC.
A yuan trading counter would allow mainland Chinese investors using the southbound Stock Connect scheme to buy and settle Hong Kong-listed shares directly in yuan, rather than converting their currency into Hong Kong dollars first.
Our goal is to incorporate a yuan trading counter into the southbound Stock Connect scheme, and we aim to implement this by July 1 of next year
Julia Leung, SFC
The inclusion of a yuan counter via the southbound Stock Connect has been anticipated by Hong Kong’s financial community since the launch of the dual-counter model in June 2023.
SFC CEO Julia Leung Fung-yee said the regulator would expand the range of yuan-denominated products.
“Our goal is to incorporate a yuan trading counter into the southbound Stock Connect scheme, and we aim to implement this by July 1 of next year,” Leung said.
Leung said in June last year that the SFC expected to realise the inclusion by the end of 2025.
The revised timeline raises the prospect that the expansion could arrive as a symbolic policy gift from Beijing ahead of the 30th anniversary of Hong Kong’s return to Chinese rule, which took place on July 1, 1997.
In Hong Kong’s first five-year plan, Lee pledged to further strengthen the city’s position as an international finance centre by enhancing its role as a global offshore yuan hub, alongside its status as an international asset and wealth management centre and an international risk management centre.
As the world’s largest offshore yuan pool, Hong Kong registered a record 935 billion yuan (US$139 billion) in yuan-denominated loans last year and over 1 trillion yuan worth of new bond issuance.
The SFC will also encourage more exchange-traded funds and other asset classes to be denominated, settled and traded in yuan. These could include gold, currency and commodity futures products, Leung said.
Carlson Tong Ka-shing, chairman of Hong Kong Exchanges and Clearing, said the SFC’s plan provides a clear framework for market development while reinforcing the city’s position as a leading international financial centre and enhancing its unique role in mainland China’s financial opening-up.
Beyond expanding the yuan ecosystem, the SFC identified two other priorities: deepening capital links with mainland China and overseas markets, and improving the efficiency of Hong Kong’s capital markets, according to Wong.
Leung said the regulator aimed to launch a new connect scheme for cross-border trading of real estate investment trusts in the first half of 2027.
The strategic plan outlines 29 measures that could be implemented within a year and a further 22 longer-term initiatives.


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

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

Physical moves by online financial firms unlikely to pump up property market: analysts

Chinese banks, Ant International push instant cross-border digital yuan transfers

Yuan

Julia Leung and Kelvin Wong announce the SFC’s priorities on Wednesday. Photo: Karma Lo

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

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

China is scaling up adoption of the digital yuan as it seeks to embed it more deeply into the country’s financial system. Photo: dpa

Mainland Chinese investors to drive Hong Kong wealth boom despite new tax rules: report

Mainland China’s share of local assets under management is projected to reach 68 per cent from 59 per cent within five years, according to a report released by the Hong Kong Association of Banks and Deloitte China. Photo: Jelly Tse

Business

Banking & Finance

Markets

Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency


Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency.


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

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency

Move marks the latest step in Hong Kong’s efforts to advance internationalisation of the Chinese currency