A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA
A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA
Neil Newman
Opinion

Opinion

Abacus by Neil Newman

Will China’s digital yuan help Hong Kong go cashless? Don’t bank on it

  • Hong Kong prides itself in being up with the latest technology and being a tech hub. But, cash remains king, and a digital yuan might become a digital yawn
  • Digital currencies issued by central banks could be the answer for e-payment-phobia and tackling illicit use of cash, but, it will be an uphill struggle to convince sceptics

A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA
A man next to a sculpture representing the renminbi and an abacus in Guangzhou, China. Photo: EPA
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Neil Newman

Neil Newman

Neil Newman is a thematic portfolio strategist focused on pan-Asian equity markets. Experienced in the major global financial centres of Tokyo, London and New York, he is a regular commentator on commercial investment strategies that suit constantly changing investor trends. He is a long-term resident of Hong Kong.