Hong Kong Exchanges and Clearing Ltd. (HKEx, 00388.HK) aims to build a robust and sustainable offshore renminbi ecosystem as part of efforts to develop Hong Kong into China’s premier offshore wealth management center.
The foremost task is to promote the use of the Chinese currency in stock transactions through channels such as the northbound links of the Shanghai-Hong Kong Stock Connect and the upcoming Shenzhen-Hong Kong Stock Connect, said Charles Li, chief executive of the local bourse operator.
Trading commodities and fixed-income products in renminbi will be two other focus areas to fulfill the vision, Li wrote on his blog as HKEx celebrated on Monday the 15th anniversary of its listing.
Li and the bourse chairman Chow Chung-kong refuted rumors that there might be a delay in the launch of the Shenzhen stock link which had been widely expected to take place in the second half this year.
No changes have been made to the plan, and there are no new developments and uncertainties, Li said.
Meanwhile, the bourse is preparing for the second-stage consultation on dual share structure which will allow different voting rights for companies listed in Hong Kong.
Li said the initiative in the consultation process marks “delightful progress” as the bourse seeks ways to bolster its competitiveness as well as investor protection.
Translation by Vey Wong
[Chinese version 中文版]
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