Chen Maobo: the international demand for RMB is increasing. Hong Kong will play a chess-eye role.

[Chen Maobo: increasing international demand for RMB Hong Kong will play a chess-eye role] Hong Kong Financial Secretary Chen Maobo said on the 11th that the "double-counter model" launched by the Hong Kong Stock Exchange on the 19th of this month, the first batch of 24 shares on the list will be traded in Hong Kong dollars or RMB respectively, covering technology, Internet, finance, real estate and consumer categories. It accounts for about 40% of the average daily turnover of Hong Kong stocks. In the future, the number of shares that can be traded in a dual-counter model will increase in stages, he said. To effectively reduce the price difference between the Hong Kong dollar counter and the RMB counter, and at the same time increase the liquidity of the RMB counter. The new arrangement will include the establishment of a "double-counter counter bookmaker mechanism". At present, nine exchange participants have been granted double-counter banker licences. The next step will be to promote the inclusion of RMB-denominated securities in Nanxiangtong, so that mainland investors can directly use onshore RMB funds to buy and sell Hong Kong stocks. Reduce the exchange risk that funds may face when they move south. He said that in the foreseeable future, the international demand for the use of RMB will only continue to increase, while the provision of richer and deeper market products and the deepening of connectivity mechanisms will enable Hong Kong to play a unique "chess eye" role in the big chess game of RMB internationalization.