STORY: Hong Kong exchange launches HKD-RMB dual counter model
DATELINE: June 20, 2023
LENGTH: 0:01:23
LOCATION: HONG KONG, China
CATEGORY: ECONOMY

SHOTLIST:
1. various of the launch ceremony
2. SOUNDBITE 1 (English): PAUL CHAN, Financial secretary of the HKSAR government
3. SOUNDBITE 2 (English): NICOLAS AGUZIN, HKEX Chief Executive Officer

STORYLINE:

Hong Kong Exchanges and Clearing Limited (HKEX) officially launched the Hong Kong Dollar (HKD)-Renminbi (RMB) Dual Counter Model and the Dual Counter Market Making Program in its securities market on Monday.

This new model and program will further support the trading and settlement of RMB-denominated securities in Hong Kong, according to the HKEX.

Under the dual counter model, investors will be able to interchange securities listed in both HKD and RMB counters. Securities under the two counters are of the same class and holdings of securities in the two counters can be transferred without change of beneficial ownership.

SOUNDBITE 1 (English):  PAUL CHAN, Financial secretary of the HKSAR government
"Looking ahead, we are determined to expand the channels for cross-border RMB flow, provide more investment and risk management products, and upgrade our related infrastructure to build an even more vibrant RMB offshore ecosystem."

SOUNDBITE 2 (English): NICOLAS AGUZIN, HKEX Chief Executive Officer
"This new dual counter offering further supports the internationalization of the RMB, strengthens Hong Kong's role as an offshore renminbi hub, and provides investors with greater choice and diversification opportunities."

Xinhua News Agency correspondents reporting from Hong Kong, China.
(XHTV)