Hong Kong SFC to Promote Trading of China Renminbi Securities, SPAC and Green & Sustainable Finance Hub
8th October 2021 | Hong Kong
Hong Kong Regulator SFC (Securities and Futures Commission) is setting up a working group to conduct a feasibility study on promoting trading of RMB-denominated securities in Hong Kong. The working group, Hong Kong Monetary Authority (HKMA) and the Stock Exchange of Hong Kong (SEHK), will look to enhance Hong Kong’s role as a key offshore RMB centre, and will work with China Mainland authorities to explore the inclusion of RMB counters in southbound trading under Stock Connect. Hong Kong SFC will also work with Stock Exchange of Hong Kong (SEHK) to promote Hong Kong’s listing regime, including Special Purpose Acquisition Companies (SPACs) and Hong Kong as a regional green & sustainable finance hub. (RMB ~ Renminbi)
“ Hong Kong SFC to Promote Trading of China Renminbi Securities, SPAC & Green & Sustainable Finance Hub ”
Hong Kong SFC Chairman, Mr Tim Lui:
“The government’s plans to strengthen Hong Kong’s offshore Renminbi (RMB) businesses and mutual market access arrangement, along with initiatives to develop Hong Kong into a green finance centre will further consolidate Hong Kong’s unique role in connecting international investors and the Mainland markets.
The Hong Kong SFC statement was made after Hong Kong Chief Executive Carrie Lam’s Policy Address to enhance Hong Kong’s status as an international financial centre.”
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