Hong Kong working to boost global banks’ use of yuan trading tools

Hong Kong has vowed to engage more international banks in a debt securities clearing system, as part of a wider push to develop the city into a leading global yuan trading hub.

“Hong Kong is actively promoting a number of measures to advance the city’s offshore yuan market to higher and deeper levels,” said Michael Wong Wai-lun, the city’s deputy financial secretary, during a Hong Kong event related to the Financial Street Forum on Wednesday.

On the infrastructure side, Wong said the government...