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Chen Jiaqiang: Shenzhen-Hong Kong Stock Connect is ready, waiting for mainland announcement
Category: Latest Announcement
Date: 2020-03-25
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Author: topplus
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娣� "Shenzhen-Hong Kong Stock Connect" is still an important content to be announced this year on the interconnection of the Mainland and Hong Kong markets. The preparatory work is ready.

Review: The market does not make up for the short-term short-term bearish Q: Can Zhangjiang Hi-Tech continue to hold?深 "Shenzhen-Hong Kong Stock Connect" is still an important content to be announced this year on the interconnection of the Mainland and Hong Kong markets. On Monday, Chen Jiaqiang, the director of the Hong Kong Bureau of Financial Affairs and the Treasury, emphasized when attending the forum that Hong Kong and mainland regulators are currently discussing the promotion of Shenzhen-Hong Kong Stock Connect and the optimization of Shanghai-Hong Kong Stock Connect. The preparatory work is ready. It will be launched as soon as possible after the announcement by the Mainland regulatory authorities. Recently, Zhu Xiaodan, the governor of Guangdong Province, met with the Chairman of the China Securities Regulatory Commission, Liu Shiyu Shi, and said that he should accelerate the preliminary work of the Shenzhen-Hong Kong Stock Connect and explore the development of joint venture securities companies. When Premier Li Keqiang attended the Boao Forum for Asia in March, he also said that he would choose to launch the "Shenzhen-Hong Kong Stock Connect" this year. Prior to this, Premier Li Keqiang also stressed that Shenzhen-Hong Kong Stock Connect was still the top priority of capital market reform this year. At present, most of the market expects the launch of the Shenzhen-Hong Kong Stock Connect in the second quarter. Previously, Liang Dingbang, the former chairman of the Hong Kong Securities Regulatory Commission and the former chief consultant of the China Securities Regulatory Commission, had expected that the Shenzhen-Hong Kong Stock Connect would be launched between the first quarter and the second quarter of this year. He Weihua, UBS Wealth Management Investment Director Asia Pacific Deputy Head of Equities, believes that the Shenzhen-Hong Kong Stock Connect will prompt MSCI to include A shares in emerging market indexes. It is expected that relevant details will be announced in the second quarter and will be officially implemented in the second half of the year. He Weihua also believes that the regulator may also adjust the Shenzhen-Hong Kong Stock Connect's southbound trading quota at the same time, so that the total annual net balance reaches RMB 250 billion, and the investable range and daily trading quota may also be relaxed. Even though the mainland and Hong Kong stock markets have continued to fluctuate since this year, the interconnection projects between the two places have continued to develop. Chen Jiaqiang revealed that as of the end of March this year, a total of 27 Mainland funds and 6 Hong Kong funds have been approved for sale in the counterparty's market under the mutual recognition of Mainland and Hong Kong funds.家 Chen Jiaqiang expressed his hope that Hong Kong could continue to be a test field and firewall for the opening of the RMB capital account under the "13th Five-Year Plan" in the Mainland. He pointed out that although the RMB exchange rate in Hong Kong has been slightly reduced due to the recent fluctuation of the RMB exchange rate, as of the end of February, the total size of RMB deposits and certificates of deposit in Hong Kong was about 947.1 billion yuan, reflecting that Hong Kong's RMB fund pool is sufficient to support the market In the first two months of this year, the average daily transaction amount of RMB in Hong Kong's instant payment settlement system remained at 1 trillion yuan. In addition to connecting with the mainland, Chen Jiaqiang once again expressed his hope that Hong Kong would become a member of the Asian Investment Bank as soon as possible. As for the “Belt and Road”, the Hong Kong Monetary Authority will set up the Infrastructure Finance Promotion Office (IFFO) this summer to become a “Belt and Road” stakeholder. Provide an information and experience exchange platform to promote Hong Kong as an important trade and financing hub along the Belt and Road.

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