Chu Sau-leung, 39, says the latest development to allow local banks to conduct business in yuan will stimulate the cross-border cash flow and benefit Hong Kong.
Ride from Pokfulam to Quarry Bay. Cost: $72.40
This yuan business arrangement is obviously another big handout from the central government to help boost Hong Kong's economy.
Not long ago, restrictions were lifted, allowing mainland tourists to visit Hong Kong individually.
While they are seriously considering expanding the scheme to other mainland cities to encourage more Chinese tourists to visit Hong Kong, here is another present for our banking sector. Allowing local banks to offer wide-ranging services in yuan will create a lot of business opportunities, and not only for the banking sector.
I am sure the new arrangement will create a more integrated currency system between Hong Kong and the mainland. And we will be the biggest winner.
