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Yuan devaluation won’t hurt China’s ‘One Belt, One Road’, says HKMA deputy
China’s “One Belt, One Road” initiative will not be affected in the long term by the devaluation of the yuan although the pace of development may be stifled, according to Eddie Yue, deputy chief executive of Hong Kong Monetary Authority. Speaking at the South China Morning Post’s China Conference on Friday morning, Yue said the “One Belt, One Road” project will require hefty bond issuance to finance the many infrastructure projects in the 60 countries along the route. The project, initiated by Beijing in 2013, aims to build roads, railways and other infrastructure projects to promote trade and economic ... (full story)