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Consolidating the Status as an International Financial Centre: A Study on the Strategic Value of Digital CNY Offshore Hub Development for Hong Kong

Author

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  • Shengjie Zou

    (Fujian University of Technology, School of Internet Economics and Business)

Abstract

This study investigates the strategic empowerment mechanism of the digital RMB offshore hub construction on Hong Kong’s status as an international financial center. Employing a multi-source data fusion approach and system dynamics modeling, combined with empirical analysis using SPSS and Vensim PLE, and supplemented by comparative case studies of Singapore and Dubai, the research elucidates the pathways through which institutional frameworks, technological infrastructure, and policy coordination impact financial competitiveness. Findings reveal that the digital RMB offshore hub, leveraging millisecond clearing, distributed ledger technology, and penetrating regulatory supervision, enhances cross-border payment efficiency by over 60%, reduces settlement costs by 35%, supports more than 20 international use cases in 2024, maintains a transaction failure rate below 0.03%, and achieves a risk identification accuracy of 98.7%. Hong Kong’s offshore RMB asset pool has reached RMB 1.8 trillion, accounting for 43% of the global total, thereby forming a stable liquidity foundation and strengthening financial resilience. The hub’s development facilitates Hong Kong’s transition from a traditional offshore center to a technology-driven financial infrastructure node, boosting its international competitiveness and capacity for innovation leadership. The study proposes enhancing the dedicated offshore operations chapter within the Financial Technology Law, deepening regulatory mutual recognition and alignment with international standards, establishing a three-tier coordination network encompassing Mainland China, Hong Kong, and global stakeholders, and promoting a replicable dual-driven model of “digital RMB + offshore finance.” The concluding analysis posits that the digital RMB offshore hub is not merely a technological instrument for improving Hong Kong’s financial efficiency, but a pivotal lever for China to institutionalize discursive power in global financial governance. Its development is set to reshape the Asia-Pacific cross-border financial landscape and support Hong Kong in achieving strategic value elevation.

Suggested Citation

  • Shengjie Zou, 2026. "Consolidating the Status as an International Financial Centre: A Study on the Strategic Value of Digital CNY Offshore Hub Development for Hong Kong," Advances in Economics, Business and Management Research,, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6239-672-2_22
    DOI: 10.2991/978-94-6239-672-2_22
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