As Hong Kong marks the 29th anniversary of its return to Chinese rule on July 1, the city’s senior officials are gearing up to enhance its role as an offshore Chinese yuan hub. Financial Secretary Paul Chan Mo-po has disclosed plans to introduce measures next month aimed at boosting offshore yuan trading. The government is set to increase the number of listed firms trading stocks in renminbi, emphasizing Hong Kong’s significance as an international financial center. Despite concerns over a heavy reliance on mainland Chinese IPOs, Chan defended the city’s position as a gateway for overseas expansion, highlighting the strength…
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