Starry Lee to propose boosting Hong Kong’s role as offshore yuan hub at ‘two sessions’
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Starry Lee, Hong Kong's delegate to the National People's Congress (NPC) Standing Committee, plans to propose strengthening Hong Kong's role as an offshore renminbi hub at the upcoming "two sessions" in Beijing. She argues that escalating geopolitical risks, such as the US-Israel strikes on Iran, necessitate bolstering Hong Kong's bond market to attract global capital. Lee believes issuing more offshore renminbi government bonds in Hong Kong will provide greater support during volatile international times. Hong Kong delegates, including Chief Executive John Lee Ka-chiu, will meet with Xia Baolong, director of the Hong Kong and Macau Affairs Office (HKMAO), to discuss these and other proposals, including easing land border crossings and establishing a cross-border low-altitude flight route. The "two sessions" are China's top annual political meetings.
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