HKMA chief says RMB internationalisation will speed up in future

The Hong Kong Monetary Authority's Chief Executive Eddie Yue says the internationalisation of the Renminbei will accelerate in the future, with more new measures expected to be introduced within the next few weeks.

Yue says the national 15th Five-Year Plan proposes to build a strong financial nation.

He says Hong Kong can make significant contributions in both building a strong currency and becoming a strong international financial centre.

Yue says currently, the total quota for Renminbei funding arrangements has increased to 200 billion yuan, and through the city's banking system, it extends to 12 different countries and regions.

Eddie Yue anticipates new measures in Renminbei internationalisation and the bond market will be introduced in the coming weeks and months.