20250226_Yuan role in stock stamp duty will ease trading AAAA BBB CCC DDD EEE END

A proposal to allow stamp duty on the transfer of stocks at yuan counters to be paid in the Chinese currency was made following feedback that paying it in Hong Kong dollars was not ideal, a government source said.

The proposal will be put to the Legislative Council for approval but will not only involve amending laws but also making back-end adjustments to the trading system, they added.

The government will also look into whether it can offer an option of choosing either currency for payment in the future, the source said.

Financial Secretary Paul Chan Mo-po revealed the proposal in his budget speech as part of efforts to promote the yuan's internationalization.

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