HKMA, PBoC extend CNY access to Hong Kong Stock Connect investors

Settling in onshore yuan gives northbound investors access to larger pool of renminbi; liquidity higher and exchange rates less volatile

HKMA: investors who buy equities traded on China’s exchanges via Stock Connect can settle in onshore yuan

The Hong Kong Monetary Authority (HKMA) has granted onshore yuan access to northbound Stock Connect investors in Hong Kong for transaction settlement, Hong Kong’s de facto central bank said on June 21.

The measure has the support of the People’s Bank of China.

The regulatory change means investors who buy equities traded on China’s exchanges via the Stock Connect schemes can now settle in onshore yuan (CNY) rates, compared with offshore yuan (CNH).

“Investors under the northbound trading of

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