China to expand global access to yuan assets, promote Hong Kong as offshore hub

Speaking at the Hong Kong Monetary Authority's Global Financial Leaders' Investment Summit, Zou said the measures would help strengthen the offshore yuan market and facilitate the currency's international use.US MarketsPowered ByAs on 03 Nov 2026, 02:30 AM ISTS&P 500 Top GainersIDEXX Laboratories671.64(21.85%)Molson Coors Beverage43.23(7.75%)LKQ19.93(7.38%)Howmet Aerospace212.99(6.91%)Gainers»S&P 500 Top LosersIntel59.97(-8.80%)Oracle119.22(-8.76%)Coterra Energy32.56(-8.62%)Datadog216.10(-8.15%)Losers»Read more: Global Market Today: Asian stocks slide as US chip selloff deepensChina would also continue pursuing high-level financial opening-up while allowing market forces to play a decisive role in exchange-rate formation, Zou said.

Such efforts would help reduce uncertainty surrounding cross-border economic and trade activities and stabilise investment expectations.Separately, China will deepen cross-border regulatory cooperation and establish an institutional environment conducive to domestic companies seeking listings in Hong Kong, Li Chao, vice chairman of the China Securities Regulatory Commission, said at the summit.Live EventsLi said regulators would strengthen efforts to combat financial fraud and illegal cross-border capital activities as Beijing seeks to improve oversight of capital markets and support Hong Kong's role as an international financial centre.Meanwhile, a senior official at China's financial regulator warned that the growing concentration of global investment in artificial intelligence could create risks for the broader economy by diverting capital away from traditional industries.Read more: US stocks today: Nasdaq ends over 1% lower as AI worries persistXiao Yuanqi, vice head of the National Financial Regulatory Administration, said the large inflow of capital into technology companies and leading AI firms had pushed up leverage levels in the sector and could contribute to excessively rapid expansion.The concentration of investment was also creating a crowding-out effect on traditional industries by increasing borrowing costs and adding to their financial burden, Xiao said.

This could weaken companies' ability to reinvest and expand production while increasing credit risks.Xiao called on policymakers to develop specific frameworks to address the economic and financial implications of the AI-driven transformation, including measures covering macroeconomic management and financial risk prevention.The comments underscore China's efforts to promote the internationalisation of the yuan and strengthen Hong Kong's financial role while tightening regulatory oversight and addressing emerging risks associated with the rapid expansion of artificial intelligence investment.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times.)(You can now subscribe to our ETMarkets WhatsApp channel)