In the long run, as China’s currency is increasingly used abroad, it will be one of the few leading global currencies, however US strength will maintain the supremacy of the US dollar, according to analysts at a Sino-German roundtable.

Corporate issuances are increasing in the offshore Renminbi bond market, despite challenges around rates, liquidity and diversification; Hong Kong is poised to benefit.

Cornerstone investors in the tech firm's listing include Hillhouse Investment Management, Taikang Life Insurance and Grab; net proceeds were $514m and the firm's valuation climbed above $4.6bn on its September 16 debut.

Despite the promising pass of an Ordinance, use cases of stablecoins in Hong Kong remain vague. Adopting retail stablecoins depends on multiple factors, including the regulator’s stance and technical concerns, such as monitoring unhosted wallets.

Alvaro Huete has been with the French bank for 28 years and is relocating from Paris to Singapore.

David Wang and Meka Meng have joined from Paul Hastings in Shanghai and Beijing.

David He, who has global experience across M&A, private equity and restructurings, joined from Gunderson Dettmer at the beginning of September.

CICC was the lead global coordinator on the Rmb2bn dim sum bond issuance with a yield of 3.35%; the bonds, which are becoming increasingly popular, were listed on the HKEX and will be used for Belt & Road initiatives.

Hong Kong’s Stablecoin Law is cementing the financial hub’s digital ambitions, however pending US crypto laws are keeping regulatory competition tight as both chase the growing opportunity.

Quentin Galmiche will start the role in Hong Kong on September 1; he first joined the French bank in 2009.