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Tse Yung Hoi enhances HK has its advantages during the Renminbi Internationalization

出自香港新聞網 - 樹仁新傳系學生實習習作

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Tse Yung Hoi enhances HK has its advantages during the Renminbi Internationalization

The Deputy Chief Executive Officer of BOC International Holdings Limited Tse Yung Hoi indicates Hong Kong has four advantages that no other China cities can substitute.

Mr. Tse points out it need to take a long long time of the Renminbi Internationalization and Hong Kong plays an important role in it.

Some think that Hong Kong has losing its competitive when compare with the high-speed development of Shanghai in the processes of Renminbi Internationalization.

Mr. Tse does not agree, “The first stage of Renminbi Internationalization is to develop a market on broad of Renminbi…to conclude the developing of all (China) cities, none of them can fight with Hong Kong because of the four advantages of Hong Kong.”

The four advantages are deposit and withdrawal function of Renminbi, investment function, settlement function and reserve function.

“The more effort Hong Kong pay, the quicker the market on broad of Renminbi develops. The less effort pay, the slower develop,” Mr. Tse smile.

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