The Hong Kong Stock Exchange officially launched the Hong Kong dollar double counter model on Monday (June 19), which will help the RMB pricing securities trading and settlement in Hong Kong.There are currently 24 double -counter securities that have been approved, accounting for about 40%of the total turnover of Hong Kong stocks.
Comprehensive China News Agency and Sing Tao Daily reported that the dual counter model refers to the two counters of Hong Kong stock markets to set up two counters of Hong Kong dollars and RMB, and separate two monetary stocks.According to the previous announcement of the Hong Kong Stock Exchange, the securities under the two counter belong to the same category, and investors can exchange Hong Kong dollar counter securities and RMB counter securities issued by the same issuer without changing the right of benefit ownership.
In addition, in order to encourage exchanges to become a dual counter dealer and increase the transaction activity of the RMB counter, the Hong Kong Special Legislative Council has passed the draft of the 2022 stamp duty (revised) regulations in January this year to exempt the above transactions from the above transactions.The dealer stamp duty during the process.
Chen Maobo, director of the Hong Kong Financial Secretary, pointed out at the launching ceremony of the dual counter model that the launch of the dual counter mechanism is another important milestone in the Hong Kong stock market.As the countries around the world make trade in RMB and use it as a reserve currency, the demand for related products will inevitably increase."We are committed to broadening the cross -border flow channels, providing more investment and risk management products, upgrading related infrastructure, and building a more active offshore RMB ecosystem."
Chen Maobo said.The next stage of work is to include RMB pricing products to the southward. At the same time, Hong Kong will continue to cooperate with mainland China to expand the interoperability plan, so that the connection between mainland China and the world investors and capital markets will be closer.
The CEO of the Executive Officer of the Hong Kong Stock Exchange said that the Hong Kong stock market is the first market in the world to implement two currency counters.This new model can further consolidate Hong Kong's position as the world's largest offshore RMB hub. At the same time, it will facilitate the use of RMB in the Hong Kong stock market transactions and broaden the scope of RMB investment products.Next, the Hong Kong Stock Exchange hopes to include RMB counter securities into the interconnection mechanism, that is, allowing mainland investors to directly invest in the Hong Kong stock market that is priced at RMB.
Under the witness of Chen Maobo and the chairman of the Hong Kong Stock Exchange, the dual counter model was officially launched.It is understood that the approved dual -counter securities include Tencent, Alibaba, Jingdong, Hong Kong Exchange, BOC Hong Kong, Li Ning, Anta, Sun Hung Base and so on.
