許正宇:擬明年上半年推雙幣股票市場莊家機制
財庫局局長許正宇今日(3日)在立法會財經事務委員會會議上表示,港府擬今年內修訂法例,豁免市場莊家就雙幣股票進行特定交易涉及的股票買賣印花稅;同時,港交所亦正就實施有關雙幣股票市場莊家機制的行政安排訂立規則,目標在明年上半年推出雙幣股票市場莊家機制,先行優化交易機制,為在香港港股通增加人民幣櫃檯做好準備。
他指,目前人民幣櫃檯流動性較低,同一證券的港幣及人民幣櫃檯間存在價差,影響投資者參與人民幣櫃檯的意欲,因此,由證監會、港交所及金管局組成的工作小組建議設立雙幣股票市場莊家機制,透過向現時流動性較低的人民幣櫃檯提供持續報價及回應報價,便利投資者在所需價格進行買賣。
他指,市場莊家亦可進行同一股票在雙幣櫃檯之間的套戥交易,致使雙幣股票的價格長期趨向一致;有關配套將有助提升人民幣股票的流動性,避免產品因流動性不足,導致價差拉寬和價格過於波動。
他亦表示,有關安排可降低內地投資者現時以港幣參與港股通的匯兌成本,同時增加在港人民幣投資工具的選擇,有利深化離岸人民幣金融產品的流動性和深度,故認為目前是進一步推動人民幣股票發展的良好時機。
他表示,現時股票印花稅佔證券交易費用超過九成,亦是市場莊家進行莊家活動及套戥交易的主要成本,交易所參與者缺乏誘因成為市場莊家,而豁免市場莊家進行特定交易原須繳納的股票買賣印花稅,可讓市場莊家可在較低的交易成本下完成套戥交易,提升縮窄雙幣櫃檯價差的效果。
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