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Hong Kong is preparing to expand the use of the offshore yuan and strengthen cross-border investment ties with mainland China under its first five-year plan, Bloomberg reported Saturday, citing Chief Executive John Lee.
The Hong Kong government plans to increase the range of offshore yuan-denominated investment and risk-management products, reinforcing the city’s position as a major international financial center and global hub for China’s currency.
Authorities also aim to deepen financial market connectivity between Hong Kong and mainland China. Existing programs such as Stock Connect, Bond Connect and Wealth Management Connect are expected to play a central role in expanding mutual market access and giving investors more opportunities across both markets.
Lee outlined the priorities during a Hong Kong Association of Banks event on Friday. Beyond financial integration, the government intends to develop commodity trading and use Hong Kong’s capital markets to support innovation and technology industries.
The Northern Metropolis project near the city’s border with mainland China will also be a major component of the five-year strategy. The large-scale development is expected to combine university districts, technology and industrial facilities, residential communities and commercial areas.
Lee is scheduled to present the five-year plan to Hong Kong’s Legislative Council on Sept. 16, ahead of his policy address. The strategy is designed to align Hong Kong’s economic development more closely with mainland China’s 15th Five-Year Plan. Officials have characterized the approach as “market-led and government-guided.”
Artificial intelligence is another focus for Hong Kong’s financial sector. Securities and Futures Commission Chief Executive Julia Leung said regulators will work to address both the opportunities and risks associated with increasing AI adoption across financial services.
The Securities and Futures Commission also plans to continue promoting greater offshore yuan usage. The initiative could further strengthen Hong Kong’s role as a gateway for international investors seeking access to mainland Chinese assets while expanding the city’s importance in global yuan trading and cross-border finance.
