Hong Kong welcomes launch of Shenzhen-Hong Kong Stock Connect

Updated 2016-11-26 10:58:23 Xinhua

The Hong Kong Special Administrative Region (HKSAR) government and institutions welcomed the launch of the Shenzhen-Hong Kong Stock Connect (SZHKSC) on Friday evening.

The SZHKSC will be launched on Dec. 5, according to a joint announcement by the China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong.

The SZHKSC is a mutually beneficial collaboration project. Following the successful implementation of the Shanghai-Hong Kong Stock Connect, the SZHKSC will help further promote the opening up of the Chinese mainland's capital markets as well as the internationalization of the renminbi (RMB), according to a HKSAR government statement.

It will also reinforce Hong Kong's position as an international financial center and a premier offshore RMB hub, it said.

John Tsang, Financial Secretary of the HKSAR, said, "The SZHKSC will be implemented very soon. We will closely monitor its implementation so that it will contribute to the economic and financial reforms of our country and reinforce Hong Kong's position as an international financial centre."


Hong Kong Exchanges and Clearing Limited (HKEX) welcomed the latest timetable for the launch of the SZHKSC.

The HKEX market has been ready in terms of technical systems and operations for the launch of program, said an HKEX statement.

HKEX has completed three rounds of connectivity testing and market rehearsals to ascertain technical readiness of the market infrastructure and operational readiness of market participants, the statement said.

"I want to thank everyone for their support to ensure a smooth launch of Shenzhen Connect," said HKEX Chief Executive Charles Li.

"We're ready for another milestone in our mutual market access initiative. Shenzhen Connect will open up another mainland market for international investors," Li said.


The Hong Kong Monetary Authority (HKMA) welcomes the timetable.

Norman Chan, chief executive of the HKMA, said, as the second channel for mutual access to stock markets of mainland and Hong Kong, the SZHKSC is an important initiative to enhance Hong Kong's position as an international financial center.

The HKMA has recently appointed two additional primary liquidity providers and introduced measures to enhance transparency of the RMB market liquidity, Chan said.

"I believe this will further strengthen Hong Kong's role as the global hub for offshore RMB business in support of RMB internationalisation," he noted.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 22 2018 11:56:58

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 22 2018 11:56:58

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 22 2018 11:56:58

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords