Shenzhen-Hong Kong Stock Connect officially starts

2016-12-06
cntv.cn

The landmark Shenzhen Hong Kong Connect scheme is now a reality, as trading starts on Dec 5. Ceremonies were held simultaneously at Hong Kong and Shenzhen stock markets via video link. Officials from both cities beat a gong to mark the launch. The connect allows investors from both markets to buy and sell shares on either market.

This is the second link of its kind. A similar link between Shanghai and Hong Kong was launched in 2014. Hong Kong SAR’s chief executive says the Connect will bring more opportunities to investors in the two bourses, with the advantages brought by “one country, two systems” principle. And the Mainland’s top securities regulatory official promises enhanced supervision efforts to protect the interests of investors.

“The Shenzhen-Hong Kong Stock Connect shows the double advantage of one country and two systems. Hong Kong is not only China’s international financial center, but also the world’s Chinese financial center. Therefore, it can be a super connector of the domestic market and international market,” said HKSAR chief executive Leung Chun-Ying.

“The financial regulators of the two markets will further cooperate, to enhance supervision of both markets,” said Liu Shiyu, Chairman of China Securities Regulatory Commission.

“They will further cooperate in law enforcement across markets, and crack down on all sorts of illegal behaviors or violations such as cross-market manipulation, so as to protect the legitimate interests of investors from the regions and around the world.”