Hong Kong is taking another step toward expanding the global use of the Chinese yuan. During a meeting between Hong Kong Chief Executive John Lee and People’s Bank of China Governor Pan Gongsheng, both sides discussed measures to improve the circulation of offshore yuan funds and support the internationalization of China’s currency.
The move highlights China’s long-term strategy to strengthen the yuan’s role in global finance and gradually reduce reliance on the U.S. dollar in international trade and financial transactions.
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