KC Chan hails RMB fund issue

February 14, 2012

The issue of the renminbi-denominated gold exchange-traded fund in Hong Kong is a good development of the renminbi exchange rate in the offshore market.
 
This was the message Secretary for Financial Services & the Treasury Prof KC Chan gave the media after attending a listing ceremony at the Stock Exchange today.
 
On the listing of the first renminbi-denominated gold exchange-traded fund, Prof Chan said Hong Kong has a lot of renminbi liquidity, adding it is a policy objective of the Government to encourage investors to use this liquidity to trade on the Stock Exchange.
 
He said more renminbi products to be listed will help investors get familiar with the trading system in renminbi.