Beijing wants Hong Kong to sow the seeds for the digital yuan. Will its plans bear fruit?

AI Summary

Hong Kong is testing interoperability between the digital yuan and other digital assets as Beijing seeks to increase the yuan's use internationally. The initiative aligns with the city's policy priority of strengthening its role in cross-border yuan adoption.

In September, Chief Executive John Lee Ka-chiu unveiled the city’s first five-year plan along with his policy address, highlighting Hong Kong’s strategic role in promoting the greater use of the yuan outside mainland China as a key priority. In the third part of a four-part series on the globalisation of the yuan, Xinmei Shen explores how Hong Kong is testing the interoperability of the e-CNY and other digital assets in an effort to broaden the currency’s international appeal. In a US Senate...