PBOC Unveils Measures to Cement Hong Kong's Yuan Hub Status Hong Kong has long been a major player in the global financial landscape as one of the world's premier yuan hubs.
Its status was solidified in 2004 when the Chinese government granted it special permission to trade renminbi (RMB) alongside the US dollar, euro, and yen on par with these currencies.
This milestone marked a significant turning point in Hong Kong's financial history and established it as a crucial gateway for Chinese businesses seeking to access international capital markets.