HKEX Rolls Out Yuan-Denominated Products Starting with Gold Futures

Hong Kong Exchanges and Clearing (0388) is set to introduce more yuan-denominated investment products, starting next year. The move aims to increase the global influence of the yuan in pricing.

The first product will be a Hong Kong-settled gold futures contract, followed by precious metals and commodity products. HKEX's head of markets Gregory Yu Hock-ken said this is part of their effort to boost the yuan's global presence.

The introduction of these products comes after the launch of five-year Chinese government bond futures in August. Open interest in these contracts has risen from around 900 to nearly 3,000 since then, attracting investors from various regions including the Middle East, Europe, the US, and Southeast Asia.