Hong Kong to provide yuan IPOs this year

City looks to boost increasing role as nation's offshore settlement center

BEIJING - Yuan-denominated initial public offerings (IPO) are expected to be launched in Hong Kong this year for the first time as the city attempts to boost its role as the offshore yuan settlement center.

Hong Kong's stock exchange and the securities regulator are preparing for the launch of yuan-denominated IPOs and are hopeful that the good news will come this year, said Chan Ka-keung, Secretary for Financial Services and the Treasury Bureau of Hong Kong, on Monday without giving a specific timetable.