The Hong Kong Monetary Authority (HKMA) is pleased to announce the launch of the HKD-RMB Dual Counter Model and the Dual Counter Market Making Programme on 19 June. Working closely with the Securities and Futures Commission (SFC) and Hong Kong Exchanges and Clearing Limited (HKEX), the HKMA aims to promote the issuance and trading of RMB-denominated securities in Hong Kong. The SFC and HKEX have released the relevant implementation details to guide the industry on participating in the Dual Counter Model. The Chief Executive of HKMA, Mr Eddie Yue, believes that the initiatives will enhance the use of RMB in equity trading in Hong Kong and will further expand the RMB investable universe, reinforcing Hong Kong’s role as the leading offshore RMB business hub. The HKMA will continue to collaborate with relevant Hong Kong and Mainland regulators and market participants to enhance offshore RMB liquidity, expand the range of offshore RMB products, and strengthen Hong Kong’s financial infrastructure.
Resource:
https://www.hkma.gov.hk/eng/news-and-media/press-releases/2023/06/20230606-4/
