SIR DONALD IS SORRY TO SAY
WE CANNOT PEG TO THE YUAN
TODAY
SIR DONALD (YAM-KUEN) TSANG
CHIEF EXECUTIVE, HONG KONG
There has been a fair amount of talk recently that the Chinese yuan (also known as the renminbi), might replace the American dollar as the world's reserve currency.
Yesterday, at Peking University, Hong Kong's Chief Executive, Donald Tsang, in town to attend the annual meeting of the National People's Congress, declined to join the bandwagon. As The Standard (Hong Kong) reported, "The Hong Kong dollar will not be delinked from the US dollar and pegged to the yuan instead...."
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