HKEX: The expected implementation of the arrangement to pay the dual-counted trading stamp duty in Renminbi is scheduled for mid-2027.

On July 22, the Hong Kong Exchanges and Clearing Limited (HKEX) issued a notice stating that in accordance with the news release issued by the Hong Kong government on July 8, 2026 regarding stamp duty arrangements for Renminbi (RMB) Counter Trading in securities, the Stamp Duty (Amendment) (No.2) Bill 2026 ("Amendment Bill") has been passed by the Legislative Council. The Stamp Duty (Amendment) (No.2) Ordinance 2026 ("Amendment Ordinance") was gazetted on July 17, 2026, and its effective date will be announced by the Secretary for Financial Services and the Treasury through the Gazette. According to the Amendment Ordinance, the stamp duty generated by securities transactions conducted on RMB counters will be calculated and paid in RMB. The HKEX will make corresponding arrangements to support market participants in paying the Securities and Futures Commission transaction levies, Hong Kong Inland Revenue Department transaction levies, Investor Compensation Fund levies, and transaction fees to the HKEX in RMB for RMB Counter Trading in securities, in accordance with the stamp duty arrangements. This aims to provide a consistent currency arrangement for the payment of stamp duties and transaction-related fees. These arrangements are expected to be implemented by mid-2027, subject to the announcement of the effective date of the Amendment Ordinance by the Hong Kong government, regulatory approval, and market readiness. Furthermore, the HKEX will update the declaration forms that exchange participants need to submit for stamp duty and transaction-related fees, with details of operational arrangements to be announced in due course.