Wal-Mart Stores, the world’s largest retailer, is considering selling yuan-denominated bonds in Hong Kong, according to Asia CEO Scott Price.
Such a move would underscore the company’s commitment to supporting local communities and China’s financial system, he said.
China is expanding its financial system and will use Hong Kong as a testing ground for yuan products, according to the city’s former central bank chief Joseph Yam Chi-kwong. Foreign firms in February became eligible to issue yuan bonds as part of efforts to bolster Hong Kong’s financial status and expand its role in promoting the yuan for commerce.
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(Source: scmp.com)