Mainland investors' RMB trading of Hong Kong stocks to be implemented by July next year; CMU digital asset platform plans to support CBDC settlement.

According to Caixin News, the Hong Kong Securities and Futures Commission has announced that an RMB-denominated share class will be integrated into Stock Connect by July 1 next year, enabling mainland investors to directly buy and sell Hong Kong stocks using the renminbi. Additionally, Norman Chan, Chief Executive of the Hong Kong Monetary Authority, announced that CMU OmniClear, jointly held by the HKMA and the Hong Kong Exchanges and Clearing, is developing a cutting-edge digital asset platform. The goal is to enable central bank digital currency (CBDC) settlements on this platform by year-end, while exploring interoperability with tokenized deposits and compliant stablecoins.