Sun Yu: Hong Kong Is the First Stop for the Renminbi Going Out, and Also an "Experimental Field" for Renminbi Use

Sun Yu, Vice Chairman and Chief Executive of Bank of China (Hong Kong), said Hong Kong has always been the first stop for the renminbi going out and also an "experimental field" for putting the renminbi to use. He proposed consolidating Hong Kong's position as the global hub for offshore renminbi business by focusing on enhancing the renminbi clearing function, promoting interconnection between RTGS and the systems of neighbouring countries, advancing the upgrade of CMU, and increasing the issuance of offshore renminbi government bonds, central bank bills and high-grade dim sum bonds.