Chief Executive Leung Chun-ying is said to have told lawmakers that the government will strive to ensure that the Shenzhen-Hong Kong Stock Connect program will be launched as scheduled some time this year.
The assurance came as the recent troubles in China’s stock markets have led to worries that the new bourse link could be delayed, the Hong Kong Economic Journal reported.
The Shenzhen-Hong Kong Stock Connect is a follow-up initiative to boost cross-border trading after a link was established last year between the Hong Kong and Shanghai exchanges.
Tan Yueheng, chairman of the Chinese Securities Association of Hong Kong, noted that the program represents a key step in China’s liberalization of its capital account.
The stock market slump will not have any material impact on the launch of the Shenzhen-Hong Kong bourse link, Tan said.
Liao Qun, chief economist at China CITIC Bank International, believes the new program between Hong Kong and Shenzhen can make its debut by the end of the year if the stock rout in the mainland can be contained by August.
Translation by Vey Wong
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