A year has passed since the city's stock exchange operator rolled out its guideline for firms to issue yuan-denominated shares, but there still aren't any takers for what was then seen as a game-changer.
Last June, Hong Kong Exchanges and Clearing (HKEx) introduced the so-called dual-option model.
Under the model, listing candidates would be allowed to sell shares denominated solely in yuan as well as in the currency and the Hong Kong dollar.
Apart from new IPO firms, listed firms would be allowed to issue new shares denominated in yuan via private share placements or right issues.
But a year on, no company has taken the yuan IPO route.
The closest the city came to a yuan listing was the listing in April last year of Hui Xian Real Estate Investment Trust, which is not considered a company.