{
  "id": 8219195,
  "title": "Govt looking at ways to expand renminbi usage: Hui",
  "url": "https://urgent.news/2026/09/18/govt-looking-at-ways-to-expand-renminbi-usage-hui-8219195",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-18T09:12:39.000Z",
  "source": {
    "name": "RTHK News",
    "slug": "rthk-news",
    "url": "https://news.rthk.hk/rthk/en/component/k2/1870623-20260918.htm"
  },
  "original_language": "en",
  "account": "Christopher Hui, the Secretary for Financial Services and the Treasury, disclosed that the government is investigating additional methods for the renminbi to be utilized in transactions. This initiative is aimed at promoting the national currency while simultaneously mitigating risks associated with exchange rates. On Wednesday, Chief Executive John Lee unveiled plans during his Policy Address to promote the global usage and adoption of the yuan. According to Hui, the government has already been accepting renminbi through various channels, including the issuance of bonds denominated in yuan. Authorities are also actively pursuing plans to enable residents to pay for stamp duties, stock transactions, and the inclusion of RMB counters under the Southbound Stock Connect Scheme, thereby encouraging more transactions involving the renminbi. Hui elaborated that the government will examine various scenarios for spending the renminbi, potentially eliminating concerns related to exchange rates, such as rate-matching issues. He suggested that the government might explore using the renminbi to manage expenses for projects related to water imports or training sessions involving mainland institutions. Hui highlighted that while these endeavors might currently involve relatively small amounts, the goal is to achieve a balanced approach between receivables and payables, which he believes is a natural and logical progression. He also mentioned that the Hong Kong Exchanges and Clearing will provide further details regarding new renminbi-denominated, physically settled gold futures contracts this year, as investors seek more diverse investment options. Furthermore, the government intends to broaden financial services utilizing the yuan, including addressing short-term financing requirements. The Hong Kong Monetary Authority will also link the Faster Payment System (FPS) with UnionPay, facilitating purchases made in yuan.",
  "summary": "Secretary for Financial Services and the Treasury, Christopher Hui, on Friday said the government would explore more ways in which the renminbi could be used to handle payments. This, he added, was a \"natural\" process to promote the use of the national currency, while serving as a way to hedge against exchange rate related risks. On Wednesday, Chief Executive John Lee announced in his Policy…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "RTHK English",
        "title": "Govt looking at ways to expand renminbi usage: Hui",
        "url": "https://urgent.news/2026/09/18/govt-looking-at-ways-to-expand-renminbi-usage-hui",
        "published": "2026-09-18T09:12:39.000Z"
      }
    ]
  },
  "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."
}