Hong Kong doubles RMB business facility to $227.27b in global RMB push

They seek to increase RMB bond issuance and increase cross-border RMB transactions.

Hong Kong reiterated its commitment to advance the internationalization of the renminbi (RMB), including doubling the size of its RMB Business Facility and promoting more transactions using the currency.

Authorities doubled the RMB Business Facility to HK$227.27b or US$29.95b (RMB200b) in late January 2026 in order to support financial institutions in facilitating the wider use of RMB in trade and cross‑boundary business, Financial Secretary Paul Chan said in the 2026-27 Budget Speech.

Hong Kong plans to issue more RMB bonds in different tenors on a regular basis and will explore the formation of an offshore RMB yield curve, Chan said in his speech delivered on 25 February.

They will also seek to attract high-quality issuers to increase bond issuance in the city, as well as tap into emerging markets to bring more cross-boundary RMB transactions in Hong Kong.

Hong Kong also plans to explore expediting the issuance of mainland government bond futures in Hong Kong; and the inclusion of real estate investment trusts (REIT) under mutual access).

Authorities will also mull the possible inclusion of RMB trading counter under the Southbound trading of its Stock Connect programme, or its mutual market access program with mainland China.

Chan said that they will also explore further enhancements to the Bond Connect programme.

(US$1 = RMB6.88; HK$1 = RMB0.88)