Former People’s Bank of China adviser Yu Yongding says if Hong Kong’s economy were to suffer further from protests the city could be forced to abandon its peg to the US dollar. Photo: Bloomberg

Hong Kong dollar could be unpegged from US dollar if protests create economic crisis, economist warns

  • Sharp deterioration in city's economic health could force Hong Kong to sever peg to the US dollar, Chinese economist Yu Yongding has warned
  • The government has stressed its commitment to the linked exchange rate system, which is underpinned by massive forex reserves
Topic |   Hong Kong protests

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Former People’s Bank of China adviser Yu Yongding says if Hong Kong’s economy were to suffer further from protests the city could be forced to abandon its peg to the US dollar. Photo: Bloomberg
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Cissy Zhou

Cissy Zhou

Cissy joined the SCMP in 2019. Prior to that, she has been a producer at BBC News and investigative reporter at CaiXin Media. She is interested in China's politics and economy.