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Hong Kong Should Explore Dollar Peg’s Future, HSBC Wong Says

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Hong Kong should study options for the city’s 31-year-old peg to the U.S. currency, including possibly linking it to China’s yuan, according to HSBC Holdings Plc Group Chief Executive Asia Pacific Peter Wong.

It could be unpegged from the U.S. dollar, tied to a basket of currencies or even the yuan, Wong said at a forum in Hong Kong today that was broadcast by Cable TV. The other options include a free-floating Hong Kong dollar, keeping the peg unchanged or naming the yuan as legal tender, he said, adding that many of the city’s companies do business on the mainland.