RMB stock trading plan gets backing from listed issuers
Amongst those who indicated support include Hang Seng Index constituent stocks.
The planned renminbi (RMB) stock trading counter of the government received backing from the city’s listed issuers, including Hang Seng Index constituent stocks.
The listed issuers will actively explore the feasibility of setting up a new RMB trading counter for their issued shares, said the government.
The government, for its part, will assist the issuers in setting up RMB trading counters and actively take forward the implementation work with relevant Mainland institutions.
“Their participation is a vote of confidence to the development of RMB securities in Hong Kong, which will be conducive to our promotion work to other issuers, enabling Hong Kong to gradually enhance its dual-currency stock market to be denominated and traded in both Hong Kong dollars and RMB,” said Secretary for Financial Services & the Treasury Christopher Hui.
According to Hui, issuing and trading yuan-denominated stocks in Hong Kong will enhance the trading mechanism in the city.
Additionally, promoting the issuance and trading of RMB stocks in Hong Kong will take RMB internationalisation to the next level.