Under Chapter 19A of the Exchange Main Board Listing Rules, H shares can only be subscribed for and traded in Hong Kong dollars. The definition of H shares under Chapter 19A restricts subscription and trading of H shares in Hong Kong dollars.
In December 2000, the Hong Kong Monetary Authority announced the full implementation of the US dollar payment system. Consequently, the Exchange has amended the requirements for trading of H shares. The Exchange has introduced a new definition of H shares in Chapter 19A to relax the restriction of trading H shares in Hong Kong dollars and allow H shares to be subscribed for and traded in any other currencies in addition to Hong Kong dollars.
The rule changes will come into effect on 21 May 2001. Reprinted pages of the Exchange Listing Rules will be distributed in due course. The revised rules will also be available for viewing on HKEx's website at http://www.hkex.com.hk from 21 May 2001.
