Should Hong Kong’s next budget make room for taking yuan global? Experts weigh in
South China Morning Post
by Sylvia MaFebruary 23, 2026
AI-Generated Deep Dive Summary
Hong Kong's upcoming budget presents an opportunity to strengthen its role in the internationalization of the Chinese yuan, according to economists. As Beijing pushes ahead with financial opening while prioritizing stability, Hong Kong is positioned to play a crucial part in advancing China's vision of becoming a global financial powerhouse. Experts suggest leveraging the city’s financial expertise by expanding offshore yuan products and using stablecoin regulations as a sandbox for cross-border payment innovations.
One key strategy is expanding offshore yuan offerings, which could enhance liquidity and attract international investors. By increasing the variety and accessibility of these products, Hong Kong can establish itself as a hub for yuan-denominated transactions worldwide. This move would not only bolster Hong Kong’s status as a global financial center but also align with China’s broader goal of integrating its currency into the global economy.
Another critical area is stablecoin regulations. By creating a regulatory framework that encourages innovation while maintaining oversight, Hong Kong can serve as a testing ground for cross-border payment systems. This could streamline transactions
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Originally published on South China Morning Post on 2/23/2026