Hong Kong Gazettes Stamp Duty Amendment for RMB Settlement on Dual-Counter Securities Today

GateNews
Hong Kong's government gazetted a stamp duty amendment bill today (May 29) proposing that RMB stamp duties on dual-counter securities trades be calculated and paid in RMB. The bill will be submitted to the Legislative Council for first reading on June 10. The government expects the measure to increase trading volumes and liquidity in the RMB counter, strengthening RMB's role as an international investment currency and reinforcing Hong Kong's position as a leading offshore RMB business hub.
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