Charles Li, CEO of the Hong Kong Stock Exchange (HKEx), said that it would launch a new offshore renminbi product by September, the South China Morning Post reported. The equities trading support facility (TSF) would effectively allow investors to use Hong Kong dollars to purchase renminbi-denominated equity shares on the secondary market. Under the scheme, investors will purchase renminbi from the TSF, invest in the equity shares, and then swap the renminbi for Hong Kong dollars after the shares are sold. The new product comes after the conclusion of the first renminbi-denominated initial public offering (IPO) this week by Hui Xian Real Estate Investment Trust. While offshore renminbi deposits in Hong Kong have reached over US$50 billion, difficulties repatriating the currency to the mainland and a lack of investment channels have hampered growth.