HKEX plans to launch the HKD-RMB dual counter model on June 19, 2023

On May 19th, the Hong Kong Stock Exchange announced today that it intends to launch the “Hong Kong Dollar–RMB Dual Counter Model” (Dual Counter Model) and the Dual Counter Maker Mechanism in the Hong Kong Securities Market when the market is ready on June 19, 2023. The dual-counter model and market maker mechanism will help promote the trading and settlement of RMB-denominated securities in Hong Kong.

Under the dual-counter model, investors can swap Hong Kong dollar counter securities and RMB counter securities issued by the same issuer. The securities under the two counters belong to the same class of securities, so the securities of the two counters can be converted into each other without changing the beneficial ownership.