Hong Kong Franchising Policy Watch: RMB Counters in Stock Connect Still at Planning Stage, Not a Franchise Rule Change

When following policy developments in Hong Kong, franchise businesses need to distinguish between capital market measures and rules governing store operations. A New Spacetime weekly report published by Sina Finance on 20 September 2026 said Hong Kong was preparing to include renminbi (RMB) counters in southbound Stock Connect trading, which allows eligible mainland Chinese investors to trade Hong Kong-listed shares. However, the material provided did not address franchise agreements, operating licences or financing arrangements for franchisees. It should not be interpreted as a new policy for the franchise community.

What measures did the report mention?

According to the weekly report, the Chief Executive of the Hong Kong Special Administrative Region announced the city’s first five-year plan and the 2026 Policy Address on 16 September. These included preparations by the Securities and Futures Commission to bring RMB counters into southbound Stock Connect trading. Hong Kong Exchanges and Clearing (HKEX) would also encourage listed companies to add RMB counters, through which their shares can be traded in renminbi.

The report also said HKEX would launch a consultation on changes to the listing regime for specialist technology companies in the first half of the following year. Based on the publication date, this means the first half of 2027. This is a consultation timetable, not confirmation that a new regime has been approved or taken effect.

Preparation does not mean implementation

The key point is the stage these measures have reached. Including RMB counters in southbound Stock Connect remains at the preparatory stage. Encouraging listed companies to add counters does not mean that all listed companies have done so. The research summary provided no implementation date, eligibility criteria or detailed operating arrangements.

Brand operators assessing the policy should distinguish between the broad direction described in the report and formally announced implementation requirements. This summary alone does not establish whether any particular chain will participate, let alone whether franchisees will gain access to loans or other funding as a result.

How does this differ from franchise regulation?

The news concerns securities trading and listing rules, not changes to franchise regulation. The material provided does not identify any changes affecting franchise fees, trade mark licensing, territorial rights, shop leases or licensing requirements. Nor does it announce any new franchised outlets in Hong Kong.

Similarly, the Hong Kong stock market opening figures and individual listed-company news included in the research are no substitute for franchise market data. Assessing whether Hong Kong’s franchise community is expanding still requires verifiable store-opening figures, brand announcements or relevant surveys. The material supplied provides none of that evidence.

Investment decisions still require outlet-level evidence

For prospective franchisees, this policy news offers capital market context, but is not enough to support a site selection, contract signing or additional investment. If franchise recruitment materials cite these policies, ask the brand to explain how the measures relate directly to its business and to provide verifiable official documentation. A policy direction should not be treated as a guarantee of outlet profitability.

Practical takeaway: first verify whom the policy applies to and when it takes effect, then independently assess the franchise agreement, investment budget and operating assumptions. Capital market measures still in preparation are no substitute for due diligence on a franchise opportunity.