Hong Kong Financial Secretary Chen Maobo published his essay on June 11, saying that the “dual counter model” trading launched by the Hong Kong Stock Exchange on the 19th of this month, the first batch of 24 stocks included in the list will then be able to trade in Hong Kong dollars or RMB. , These 24 stocks cover technology Internet, finance, real estate and consumer, accounting for about 40% of the average daily trading volume of Hong Kong stocks. In the future, the number of shares that can be traded under the dual-counter model will increase in stages, he said. In order to effectively reduce the price difference between Hong Kong dollar and RMB counters, and at the same time improve the liquidity of RMB counters. The new arrangement will include the establishment of a “dual counter market maker mechanism”.At present, 9 exchange participants have been granted dual-counter market maker licenses, and the next step will be to promote RMB-denominatedsecuritiesIncorporating the “Southbound Connect” allows mainland investors to directly use onshore RMB funds to buy and sell Hong Kong stocks, reducing the exchange risk that may be faced when funds go south.
He said that in the foreseeable future, the international demand for the use of RMB will only continue to increase; the provision of richer and deeper market products, as well as the deepening of the interconnection mechanism, will allow Hong Kong to play a major role in the internationalization of the RMB. Play a unique “chess eye” role in the chess game.
(Article source: Jiemian News)
Article source: Interface News
Original title: Chen Maobo: The international demand for RMB continues to increase, and Hong Kong will play a role as a chess player
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2023-06-11 09:13:08
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