The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.

To increase Hong Kong’s economic size, we should emulate the historical territorial expansion of other metropolises by merging Hong Kong and Shenzhen in 2047.

Merge Hong Kong and Shenzhen in 2047 for a stronger economy

Come 2047, what will happen to Hong Kong? In recent years, talk about the city’s post-2047 future has intensified as its relations with the mainland grow strained over a number of issues. Most agree it is time for debate on what will happen to “one country, two systems” after 50 years.