China’s AI market, firms and tech are growing strongly, while the regulatory climate is maturing. Hong Kong can contribute by providing AI talent and funding.
Despite hopeful talk of a Brics currency, the time is not yet ripe for such a move. It is more feasible for each state to launch a central bank digital currency and work towards interoperability.
China’s growing clout makes the Belt and Road Initiative and Regional Comprehensive Economic Partnership ideal platforms to push for yuan internationalisation, aided by Hong Kong’s financial centre strengths.