The Hong Kong Monetary Authority (HKMA) has announced a strategic expansion of the use of Hong Kong dollars as a local currency in the Asia-Pacific region. CEO Eddie Yue Wai-man highlighted this move as a vital measure to mitigate potential risks associated with global economic uncertainty. The HKMA plans to establish a local currency debt market, aiming to bolster financial stability and diversification. This initiative includes efforts to enhance regional economic partnerships and foster greater stability within the Asia-Pacific area. The strategy is designed to provide a more resilient financial system, safeguarding Hong Kong’s economic position.
Credits: News – South China Morning Post
