HKEX welcomes the announcement today by the Hong Kong Secretary for Financial Services and the Treasury on plans to waive stamp duty on specified stock transactions conducted by market makers for dual counter trading, among other incentives to support the development of the dual HKD-RMB counter for Hong Kong-listed equities. This will play an important part in driving the attractiveness of the Dual Counter Market Making programme that we are developing.
The adoption of RMB counters for trading and settlement by Hong Kong-listed companies, as well as plans to explore the inclusion of RMB counter for Stock Connect’s Southbound trading, are exciting initiatives that will support the continued development of Hong Kong as an offshore yuan funding hub, adding new liquidity and market vibrancy, building greater breadth and creating a globally-unique marketplace.
As a corporate, HKEX itself is already evaluating the launch of an RMB counter, with a view to offering a dual counter stock. Further announcements on this and our proposed market making programme will be made in due course.
