International yuan makes opportunities for HK dollar

16:13, December 09, 2010      

Email | Print | Subscribe | Comments | Forum 

Norman Chan, Chief Executive of Hong Kong Monetary Authority, said Wednesday that a more international yuan would not affect the Hong Kong dollar.

He explained that the circulation of RMB in Hong Kong is partly the result of the mainland tourists in Hong Kong who use yuan in their consumption there, but the HK dollar is not linked with the yuan.

He believes that the internationalization of RMB means a unique opportunity for Hong Kong, which has great potential as the offshore center and capital assembly platform for the yuan.

That potential will grow when Hong Kong's international trade rises and the capital flow in and out of China’s mainland will increase.

Although the economic growth in China's mainland may have a slowdown, it will be a very slight one. At present, Asian emerging markets contribute 70 percent of the world economic growth. And 35 percent of that is from China. That, he believes, will sustain at least until 2015.



By Li Jia, People’s Daily Online

(Editor:李佳)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Five-month-old twin girls, An An (left) and Xin Xin, meaning safe and relieved in Chinese and carrying the good wishes of their parents, leave a Shanghai hospital yesterday, less than four weeks after a September 5 surgery to separate the conjoined twins from Zhejiang Province. They were born connected at the liver, chest bone and heart sac, the covering around the heart. Though they shared one liver and used one pericardium, they have their own hearts.
  • Models present cheongsams designed by Chen Yanqin during a fashion show in Yantai, east China's Shandong Province, Sept. 30, 2011. More than 100 creations of cheongsams, a traditional Chinese women's dress also known as mandarin gown or Qipao, were displayed here Friday. (Xinhua/Li Mingfang)
  • Citizens watch fireworks exploding over the Jingtian Lake during a music firework show in Shanghai, east China, Sept. 30, 2011, on the eve of the National Day. (Xinhua/Pei Xin)
  • A member of the media takes a look at a Bluecar, an electric-powered car made by French company Bollore, at a media presentation in Vaucresson, west of Paris, yesterday. The Bluecars have a range of 250 kilometers in urban use and a maximum speed of 130km per hour, and will be available to rent in the streets of Paris under the name of Autolib. The four-seater Bluecars will be positioned at 1,200 stations in the French capital, where customers can pick them up and drop them off, and will be available around the clock. Users must have a valid driver's license and pay a subscription fee to borrow one of the vehicles.
  • Tourists watch a performance about an ancient court trial. (Photo/Xinhua)
  • U.S. President Barack Obama (4th L, front) shakes hands with outgoing Chairman of the Joint Chiefs of Staff Admiral Mike Mullen (1st R, front) as Vice President Joe Biden (3rd L, front), Secretary of Defense Leon Panetta (2nd L, front), and Army General Martin Dempsey (1st L, front) look on during the Chairman of the Joint Chief of Staff Change of Responsibility Ceremony at Joint Base Myer-Henderson Hall in Arlington, the United States, Sept. 30, 2011. Army General Martin Dempsey succeeded Mike Mullen to become the 18th Chairman of the Joint Chief of Staff on Friday. (Xinhua/Zhang Jun)
Hot Forum Discussion