Hong Kong Exchanges and Clearing Limited (HKEX) submitted an application to launch a Renminbi (RMB) counter for the trading of HKEX shares, the bourse announced on its website on Wednesday.

The move forms part of the rollout of the Hong Kong Dollar (HKD)-RMB Dual Counter Model which will allow investors to interchange between securities listed in HKD and RMB seamlessly.

HKEX said that the model would offer a choice of trading currency and the potential to access new liquidity.

"As a market operator and as a corporate, we look forward to delivering this new initiative, strengthening Hong Kong's position as a premier offshore RMB hub and supporting the internationalization of the RMB," said Nicolas Aguzin, chief executive officer of HKEX.

The dual counter model for market making in the Hong Kong securities market was first introduced in December 2022.