The long-awaited stock through-train program will kick off on Nov. 17, according to a joint statement issued by Hong Kong’s Securities and Futures Commission (SFC) and the China Securities Regulatory Commission on Monday.
The two stock market regulators said they have approved the launch of the Shanghai-Hong Kong Stock Connect pilot scheme after all necessary regulatory approvals and relevant regulatory operational arrangements were finalized.
The two regulators have established innovative and robust mechanisms to protect the integrity of both markets when the pilot program begins, SFC chairman Carlson Tong said.
The announcement came after Chief Executive Leung Chun-ying met President Xi Jinping in Beijing on Sunday.
Beijing strongly supports the Shanghai-Hong Kong Stock Connect cross-border trading scheme, which will benefit the development of the markets in Hong Kong and on the mainland, the Hong Kong Economic Journal reported, citing Leung.
Leung’s remarks came after he met state leaders on the sidelines of the Asia-Pacific Economic Cooperation ministerial meeting in Beijing.
The Shanghai Stock Exchange reportedly rehearsed the opening ceremony during the weekend.
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