Yuan-denominated trade 'set to double'

HK institutions looking to add more financial products to meet demand

China's cross-border trade settled in the yuan will likely double in the next five to seven years, which will generate opportunities for financial institutions in offshore markets for the currency, a senior monetary official from Hong Kong said on Friday.

Chan Tak-lam, chief executive of the Hong Kong Monetary Authority, said that he expected financial institutions in Hong Kong to introduce more yuan-denominated products to meet investors' demand for the yuan.