Hong Kong’s usage of the yuan in trades is up 73% from a year earlier in the first 10 months this year, totaling RMB5 trillion (US$815 billion), Bloomberg reported. This continues Hong Kong’s status as the world’s largest offshore yuan hub. China is promoting the use of the yuan as an international currency, and it was the seventh most used in global payments in the month of October. The daily average turnover of Hong Kong’s real-time yuan payments system has doubled to RMB800 billion in October, from RMB400 billion a day in 2013, according to Hong Kong Monetary Authority Chief Executive Norman Chan.
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