Premier Li Keqiang said the Shenzhen-Hong Kong Stock Connect will be launched this year, the Hong Kong Economic Journal reports.
Speaking at a news conference at the end the National People’s Congress annual session in Beijing on Wednesday, the Premier said the Shanghai-Hong Kong Stock Connect has proven to be beneficial for both sides.
Experience gained from the cross-border stock trading link is enormous and mainland authorities are in close talks with their Hong Kong counterparts for the launch of the Shenzhen version, he added.
Hong Kong’s Financial Secretary John Tsang Chun-wah said time is needed to test the Shenzhen link and prepare for its launch.
Fang Xinghai, deputy chairman of the China Securities Regulatory Commission, said an internal set-up for the new stock link has yet to be completed and about four months are needed for the technical preparation before the final date of the launch is announced.
This means the Shenzhen link is likely to kick off in the second half of this year.
[Chinese version 中文版]
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