The unconvertible yuan is why Shenzhen will not unseat Hong Kong as financial hub. Illustration by Lau Ka-kuen

Unconvertible yuan is a drag on Shenzhen’s race to supplant Hong Kong’s unique role as China’s offshore financial centre

  • Hi-tech hub is likely to play a larger role in making yuan a global currency, analysts say, but mainland Chinese capital controls will keep it from becoming a magnet for global investment
  • Hong Kong’s freely convertible currency ensures its unique position as China’s window to the world
Topic |   Shenzhen

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The unconvertible yuan is why Shenzhen will not unseat Hong Kong as financial hub. Illustration by Lau Ka-kuen
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