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Move to boost Yuan globalization
The Hong Kong dollar-renminbi Dual Counter Model was launched at a time when the strategic importance of Chinese yuan currency in terms of fund flow, liquidity and popularity is on the ascent. With the launch of the model on Monday, 24 Hong Kong-listed companies, such as Tencent Holdings, Alibaba Group, Hong Kong Exchanges and Clearing and AIA Group, will offer their shares to be traded in both the Hong Kong dollar and renminbi. These are highly sought-after stocks by mainland investors with strong liquidity, accounting for around 40 percent of the average turnover of the Hong Kong bourse. Shares traded under the ... (full story)
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