Hong Kong to thrive despite mainland's economic slowdown
Hong Kong will be able to cash in as mainland China continues to liberalise its financial markets and promote the use of the yuan in global trade, says Standard Chartered's CEO Benjamin Hung Pi-cheng, at the same time playing down the adverse effects of the mainland's economic slowdown, believing that "there are signs that it is starting to stabilise”. Norman Chan Tak-lam, the Hong Kong Monetary Authority CEO, said that Hong Kong will play a larger role in international yuan business as he expects that half of all China's trade will be settled in the currency in five years.
Standard Chartered Bank’s chief executive says city will also benefit from the greater use of yuan in global trade