Hong Kong-listed companies slash dollar borrowings in favor of yuan

HONG KONG -- Some Hong Kong-listed companies are shifting their borrowings to yuan, sometimes drastically, as the U.S. Federal Reserve keeps rates high to fight inflation while the People's Bank of China maintains a low-rate environment to prop up its stagnating economy.

Want Want China, a Taiwanese snack and beverage producer that trades in Hong Kong and does business on the mainland, has almost completely flipped its borrowing portfolio away from the greenback. Meanwhile, Link Real Estate Investment Trust and jewelry store chain Chow Tai Fook Jewellery Group have been shifting from the Hong Kong dollar, which is pegged to the U.S. currency.