John Lee: Promote the internationalization of the renminbi; study the use of the renminbi in certain contracts or transactions with the mainland

Zhito Finance APP has learned that Hong Kong's first "Five-Year Plan" proposes strengthening Hong Kong's position as the world's largest offshore RMB business hub, and that the SAR government will take the lead in actively studying and promoting the use of RMB to pay government expenses in more suitable scenarios. Chief Executive John Lee mentioned on a radio program that about 75% to 85% of offshore RMB transactions are currently conducted in Hong Kong, but he believes more can be done to promote the internationalization of RMB, such as allowing investors to purchase bonds in RMB. He also said the government will study the use of RMB in certain contracts or transactions with the mainland, for example, when civil servants attend training at mainland institutions, studying the use of RMB to pay part of the fees.