A special group has been set up by China to launch Shenzhen-HK stock connect
China's securities regulator has already set up a special work group in order to launch the Shenzhen-Hong Kong Stock Connect scheme, as Chinese magazine Caixin posted on its website.
The group, headed by vice chairman of the China Securities Regulatory Commission (CSRC), Fang Xinghai, is solely responsible for coordinating efforts among various departments of the CSRC, relevant government bodies and also between Chinese as well as Hong Kong regulators. That’s what Caixin has already unveiled to its audience.
The Shenzhen-Hong Kong Stock Connect appears to be a cross-border investment program modeled after the Shanghai-Hong Kong Stock Connect, that was launched in November 2014, and it enables mainland investors to purchase Hong Kong shares and vice versa.
Hong Kong Exchanges along with Clearing Ltd told in the mid-year report that the exchange was ready for the Shenzhen-Hong Kong Connect scheme, and it was only waiting for regulatory approval.