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China’s HK, ASEAN should strengthen ties to expand offshore RMB business

China’s Hong Kong should join hands with the ASEAN countries under the “One Belt, One Road” initiative to further expand the offshore renminbi business, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region (HKSAR) government K C Chan said on Monday.

Addressing the 2nd ASEAN Development Forum hosted by the Asia Pacific Daily, Chan said with stronger economic and trade ties between China and other countries in the world, together with the inclusion of renminbi into the International Monetary Fund’s Special Drawing Rights basket, renminbi will be more widely accepted and circulated in the international markets.

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