HKEX Supports RMB Payment for Stamp Duty and Trading Fees
Claire Weston
HKEX announced on July 17 that stamp duty on dual-counter RMB trades can now be calculated and paid in renminbi, with trading-related fees to follow — laying the groundwork for adding the RMB counter to Stock Connect.
What rule just changed?
Hong Kong gazetted the Stamp Duty (Amendment) (No. 2) Ordinance 2026, confirming that stamp duty on RMB-counter trades of dual-counter securities will be calculated and paid in RMB.
This means → previously, even when trading the RMB counter, stamp duty had to be converted to HKD; now it settles in RMB directly, removing one layer of FX friction.
HKEX will also accept RMB for SFC transaction levies, AFRC transaction levies, Investor Compensation Levies (currently suspended), and Exchange trading fees.
Why unify the payment currency?
HKEX Chief Operating Officer Wilfred Yiu said the move aims to "facilitate global investors' use of RMB in the market by unifying the payment currency for stamp duty and trading-related fees on RMB-counter transactions."
In plain terms = buying an RMB-counter stock end-to-end — order, settlement, tax — now stays in one currency, with no mid-process conversion for brokers or investors.
He added that this paves the way for including the RMB counter in Stock Connect — once connected, mainland investors could buy Hong Kong stocks directly in RMB, bypassing HKD.
When does it take effect?
HKEX is currently consulting regulators and market participants and carrying out system upgrades.
Three conditions must be met: the government issues a commencement notice, regulatory approvals are secured, and market readiness is confirmed.
This means → no fixed date yet, but the direction is locked in — a detailed timetable will be announced "in due course."
Content is for reference only, not financial advice.