Sun Yu on Hong Kong's Offshore Renminbi Hub Role
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On 21 October 2026, 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 global and an "experimental field" for putting the renminbi to use. He proposed consolidating Hong Kong's position as the global offshore renminbi business hub, with priorities including enhancing renminbi clearing functions, promoting interconnection between the real-time gross settlement (RTGS) system and systems in neighbouring countries, advancing the upgrade of the Central Moneymarkets Unit (CMU), and increasing issuance of offshore renminbi government bonds, central bank bills and high-grade dim sum bonds.
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- 香港電台·即時本地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.
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