Hong Kong Bets Big on Yuan: Gold Futures and New Products Coming

Hong Kong is pushing to make the Chinese yuan more popular around the world. The city's stock exchange operator, Hong Kong Exchanges and Clearing (HKEX), will launch new gold futures priced in yuan early next year. The city's de facto central bank also plans to introduce more yuan products and platforms. These moves aim to support the yuan's internationalization — meaning its wider use in global trade and finance — and its digitalization. "HKEX recently reactivated our gold contract in the US dollar," a speaker said at a banking summit on Wednesday. "But in the future, perhaps sometime early next year, we will be coming up with a..."