Hong Kong officials held discussions with finance ministers and representatives from economies such as Brunei during last week’s Apec meeting on reducing reliance on the US dollar and expanding the use of local currencies and the yuan for bilateral trade settlement, the city’s treasury chief has said.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu on Sunday also shared lighthearted but telling anecdotes about the intangible gains made by the city from hosting the Asia-Pacific Economic Cooperation Finance Ministers’ Meeting, noting how impressed delegates had been.
“They directly hope that through this meeting, not only to communicate at the government level, but also to communicate with our business sector on the internationalisation of the renminbi, especially regarding the use of local currencies,” Hui told the media.