China unveils US$13 billion trade finance facility in boost to yuan hub in Hong Kong

Quick Summary:

New measures will enhance Hong Kong’s role as an offshore yuan hub as well as deepen the city’s bond market with more institutional players.

People’s Bank of China Governor Pan Gongsheng, seen during a press briefing in Beijing in September 2024.

It will make companies and banks “feel more comfortable” to use yuan to settle trade, he added.

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Article Details

Author / Journalist: Enoch Yiu

Category: Business

Markets: Hong KongChina

Topics: Trade Investors Banks Bonds Yuan Hong Facility Funding Kong Market China

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-13 @ 13:18:11 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 369 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 25097561

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