It should be pointed out that the co-existence of two currencies, that is, the Hong Kong dollar and the renminbi, is a clear demonstration of the differences between the economies of Hong Kong and the mainland. It is therefore essential that the two monetary systems should be mutually independent. The renminbi will not replace the Hong Kong dollar.
We are of the view that the co-existence of two monetary systems is significant to the economic reform of China. It follows from the two mutually independent monetary systems of the mainland and Hong Kong that the two monetary authorities will also be mutually independent and one is not superior to the other.