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FA spoke with industry players who explained how the city will roll the scheme out, and what still needs to happen.

Eddie Yue was appointed by Hong Kong financial secretary Paul Chan as the SAR promotes its Rmb offshore hub status.

The aim is to help firms comply with US withholding tax requirements on foreign persons and entities, as the total issuance for dim sum bonds in 2023 tallied $76 billion in Hong Kong.

HKMA and the PBOC to further support the expansion of use cases of the digital yuan in Hong Kong, targeting local consumers and travellers.

As cases spike, the Hong Kong Monetary Authority is stepping up efforts to tackle fraud in an evolving banking landscape such as the use of the Faster Payment System.

Hong Kong’s regulatory landscape for digital asset custody remains fragmented. While industry players welcome greater clarity, striking the balance with growth is crucial.

Experts share insights around the value potential of a digital currency, following the HKMA’s publication of an initial report on the pilot.

The regulator has teamed up with 16 market participants to explore the viability of CBDC implementation. However, questions around interoperability, monetary sovereignty and the role of the traditional banking system remain.

Set to go live from May 15, the mutual market derivatives initiative marks a world first for international trading that is set to facilitate the increased internationalisation of renminbi.