Hong Kong actively preparing to launch RMB counter for Stock Connect program: financial secretary

A woman shows banknotes and coins included in the 2019 edition of the fifth series of the renminbi. HONG KONG -- Paul Chan, financial secretary of China's Hong Kong Special Administrative Region government, said on Saturday that the HKSAR government is actively preparing to launch a Renminbi counter for Stock Connect program, aiming to bring new catalysts for the issuance and trading of offshore RMB stocks. Chan made the remarks at the Fifth Guangdong-Hong Kong-Macao Greater Bay Area Financial Development Forum. He said that in March 2023, constituent stocks of the SSE A Share Index and the SZSE Composite Index that meet certain requirements are included in Northbound trading, and eligible shares of international companies that are primary-listed in Hong Kong are included in Southbound trading. This marks a significant milestone, which he said will help mainland enterprises gain access to international funds, and help Hong Kong attract high-quality international enterprises to list in the city.