China's Lujiazui Forum unveiled measures to expand offshore RMB finance, challenging US dollar dominance. While full replacement is unlikely, Beijing methodically builds infrastructure to reduce dollar dependence, posing a geopolitical threat.
Hong Kong aims to launch an 'IPO Connect' program, building on the existing Stock Connect, to enhance market liquidity and provide international investors with greater access to top-tier China assets, as discussed at the Lujiazui Forum.
China plans to bolster legal defenses against unilateral sanctions by incorporating blocking and countermeasure provisions into financial legislation, according to Vice-Premier He Lifeng. He stated China will not compromise against "groundless suppression" and warned against unilateralism and protectionism.
