Monday, 24 June 2024

BOC Hong Kong takes part in securities trading under HKD-RMB Dual Counter Model

5 min read

BOC Hong Kong (Holdings) Limited is among the first designated Hong Kong-listed companies to establish an RMB counter for securities trading, as part of the new Hong Kong Dollar (HKD)-Renminbi (RMB) Dual Counter Model announced by The Stock Exchange of Hong Kong Limited.

The Dual Counter Model offers investors the option of trading in either Hong Kong Dollars or RMB, thus increasing flexibility and helping to enrich the offshore RMB market product suite. It is a significant initiative for promoting interconnectivity between the mainland and Hong Kong, further enhancing Hong Kong’s core capabilities as a global offshore RMB business hub under the National 14th Five-Year Plan.

As the sole clearing bank for RMB business in Hong Kong, Bank of China (Hong Kong) (BOCHK) will continue to actively support the innovative development of Hong Kong’s offshore RMB business and contribute to promoting RMB internationalisation and enhancing Hong Kong’s status as an international financial centre. As one of the major financial service providers in Hong Kong, BOCHK is also optimising its mobile banking to provide personal customers with inter-counter securities trading services as soon as the Dual Counter Model is officially launched.

Re-disseminated by The Asian Banker

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