Hong Kong budget 2026-27: should the coming blueprint boost yuan’s global push?

South China Morning PostEN 2 min read 100% complete by Sylvia MaFebruary 23, 2026 at 01:00 AM

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As Hong Kong prepares its 2026-27 budget, economists suggest the city should enhance its role in promoting the internationalization of the Chinese yuan. Experts propose expanding offshore yuan products and leveraging stablecoin regulations for cross-border payments. This push aligns with China's goal to become a "financial powerhouse," as emphasized by President Xi Jinping, particularly amid growing de-dollarization trends. Hong Kong's unique position as a bridge between China and the world, with its common law system and financial expertise, makes it ideal for advancing yuan internationalization. The call for action is driven by geopolitical shifts and concerns about the US dollar's stability, creating an opportune moment to strengthen the yuan's global standing.

Key Entities & Roles

Key Player Opposition Context

ANZ 30% Shanghai 40% Qiushi 40% Raymond Yeung 40% Donald Trump ×250% China Europe International Business School 50% Rui Meng 60% Xi Jinping 60% China ×270% Beijing ×270% Chinese yuan ×480% Hong Kong ×490%

Keywords

yuan internationalisation 100% hong kong budget 90% financial powerhouse 70% de-dollarisation 70% chinese yuan 60% cross-border payment 50% financial opening 50% fintech 40% global reserve status 40%