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The Hong Kong dollar is expected to have a limited future as the yuan gains more popularity over time, according to a survey conducted among 225 Chinese and Hong Kong business executives by London Business School and the University of Hong Kong. Though the HKD is still the most popular currency among these executives thanks to its stability and because it is freely convertible, 62 percent of the executives expect the currency to be phased out eventually, the survey showed.
Three quarters of respondents said this would be met with disappointment, for economic and sentimental reasons, including loss of political independence and the stability of Hong Kong as a financial centre. "The 'one country-two systems' arrangement for Hong Kong will eventually come to an end, so that would mean the end of a separate currency in any case," said Linda Yueh, Adjunct Professor of Economics at London Business School. "Whether it's good or bad for the economy of Hong Kong will depend more on how the structure of the economy is rather than just the currency."

Copyright Reuters, 2016

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