Analysis on the Status Quo of RMB-ization in Hong Kong and Its Economic Impact

摘要

With the further development of economic relationship between Mainland and Hong Kong, and the operation of personal RMB business of bank in Hong Kong, the circulating scale of RMB is becoming more and more in Hong Kong. As a result, the phenomenon of RMB-ization that RMB substitutes for Hong Kong dollar is increasingly serious. As a double-edged sword, this phenomenon has not only positive but also negative effects on economic development of Mainland and Hong Kong. This paper analyzes these effects of RMBization based on the status quo of RMB-ization in Hong Kong and puts forward the corresponding countermeasures.