简体中文
In order to advance preparatory work about Shenzhen-Hong Kong Stock Connect, Fang Xinghai, vice-chairman of the China Securities Regulatory Commission (CSRC) and head of special working group of Shenzhen-Hong Kong Stock Connect, recently held a work conference, at which Shenzhen and Hong Kong exchanges, China Securities Depository and Clearing Company Limited (CSDC) and some securities companies report progress of preparatory work and suggestions and will make deployment on relevant work so as to introduce the Shenzhen-Hong Kong Stock Connect within the year.
Pilot of Shanghai-Hong Kong Stock Connect has seen smooth and orderly operation on the whole since it is launched. It gets through test from the market, achieves expected target, provides precious experience and lays solid foundation for Shenzhen-Hong Stock Connect. After CSRC and Securities and Futures Commission (SFC) released joint announcement on Aug. 16, various market participants accelerated preparatory work. The four parties including Shenzhen Stock Exchange (SZSE) have finished formulating major rules and plan to solicit opinions from the market soon. Development and mutual simulation testing of technological system of exchanges and clearing houses of Shenzhen and Hong Kong have been completed and various work is promoted orderly. Recently, the SZSE and CSDC jointly announced the start of work, requiring relevant institutions to participate in it. Some securities companies set up special groups, strengthen organizational guarantee and have accomplished technological development based on Shanghai-Hong Kong Stock Connect. So they are expected to finished preparatory work earlier.
Fang stressed that Shenzhen-Hong Kong Stock Connect is another significant move on reform and opening-up of capital market made by the Party Central Committee and the State Council, marking a solid step of Chinese capital market towards internationalization and marketization. This will strengthen cooperation between mainland China and Hong Kong in a larger scope, higher level and deeper depth and improve international competitiveness of Chinese capital market and its ability of servicing real economy. Therefore, the CSRC and Party committee attach grate attention to this work. Participants attending the conference indicated that they will carry out close coordination under unified arrangement of the CSRC so as to ensure that preparatory work will be finished on time.
