Hong Kong well placed to help Central Asia grow yuan trade, leading banker says

Hong Kong is positioned to become a hub for Central Asian countries looking to increase the use of the renminbi in trade and investment, according to Stephen Chan Man, deputy chief executive of Bank of China (Hong Kong). He stated that Hong Kong possesses the "most complete renminbi financial ecosystem." Chan highlighted that an upcoming delegation led by Chief Executive John Lee Ka-chiu to Kazakhstan and Uzbekistan next month presents an opportunity to strengthen financial connections with the region. This initiative aims to establish a "hub-to-hub" model, which, if successful, could create a dependable financial and commercial corridor between the two regions. Chan will participate in the delegation as the acting chairman of the Hong Kong Association of Banks.