Chinese 100 yuan banknotes and US$100 notes are seen at a money exchange shop in Causeway Bay, Hong Kong, on August 5. The city is the largest offshore yuan centre worldwide. Photo: Roy Issa
Opinion
Opinion
Hong Kong’s status as a finance hub makes it a US target, which may force China to change tactics for internationalising the yuan
- Hong Kong’s importance to the yuan and Congress’ new bill show that the trade war has turned into a financial conflict. China’s goal to internationalise the yuan may require greater diversification in the face of such scrutiny
Chinese 100 yuan banknotes and US$100 notes are seen at a money exchange shop in Causeway Bay, Hong Kong, on August 5. The city is the largest offshore yuan centre worldwide. Photo: Roy Issa