{
  "id": 8197423,
  "title": "'HK should spare no effort on RMB globalisation'",
  "url": "https://urgent.news/2026/09/18/hk-should-spare-no-effort-on-rmb-globalisation-8197423",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T06:54:19.000Z",
  "source": {
    "name": "RTHK News",
    "slug": "rthk-news",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1870584-20260918.htm"
  },
  "original_language": "en",
  "account": "HSBC Asia-Pacific's Chairman, Peter Wong, has emphasized the importance of Hong Kong's role in expanding the internationalisation of the renminbi. Addressing RTHK's On Broadcast Drive, Wong highlighted Hong Kong's crucial advantage as being China's sole international financial hub. He argued that promoting the renminbi's global acceptance would bolster Hong Kong's standing in this regard. Wong suggested that increasing the volume of renminbi funds in Hong Kong would enable banks to offer a wider range of services, noting that a substantial pool of funds allows for the creation of novel financial products. For instance, if the renminbi could be directly utilized to purchase Hong Kong stocks, international entities with excess renminbi could invest in Hong Kong, thereby enhancing the city's vibrancy. Wong drew parallels to the existing practice of certain countries using the renminbi for trade settlements, such as those in South America, Africa, and Southeast Asia. He contended that if these nations channeled their surplus renminbi to Hong Kong, the city's renminbi pool would expand, positioning Hong Kong as the most prominent and robust offshore renminbi center.",
  "summary": "Chairman of HSBC Asia‑Pacific, Peter Wong, says Hong Kong should \"spare no effort\" in promoting the internationalisation of the renminbi. Speaking on RTHK's \"On Broadcast Drive\", he said Hong Kong's key advantage is being China's only international financial centre and promoting the renminbi's internationalisation would strengthen that position. He said Hong Kong needs to grow its pool of…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "RTHK English",
        "title": "'HK should spare no effort on RMB globalisation'",
        "url": "https://urgent.news/2026/09/18/hk-should-spare-no-effort-on-rmb-globalisation",
        "published": "2026-09-18T06:54:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}