Hong Kong launched a new scheme today (June 19) that allows offshore investors to trade equities in renminbi, as Chinese authorities continue to push for wider use of the yuan internationally.
The HKD-RMB Dual Counter Model, set up by the Hong Kong Exchanges and Clearing (HKEX), gives investors the option to buy and sell equities of 24 companies in both Hong Kong dollars and renminbi.
The participating companies include some of the biggest Hong Kong-listed firms, such as Tencent, Alibaba Group
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