国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Markets

Second stock connect draft plan released

By Cai Xiao in Beijing and Lin Wenjie in Hong Kong (China Daily) Updated: 2016-08-27 08:17

Second stock connect draft plan released

Premier Li Keqiang said in March that the central government will seek to launch the Shenzhen-Hong Kong Stock Connect this year.[Photo/IC]

China's securities regulator released a draft on Friday detailing the expansion of an initiative that further opens the A-share stock market to investors.

The draft revises the regulations for the Shanghai-Hong Kong Stock Connect, expanding their range to include the Shenzhen-Hong Kong Stock Connect.

The China Securities Regulatory Commission has invited the public to comment on the draft until September 25.

"The launch of Shenzhen-Hong Kong Stock Connect can be good for mainland and Hong Kong markets. It in turn will help the opening-up of China's capital market," said Hong Hao, chief strategist at BOCOM International Holdings Co.

On Aug 16, the State Council approved a long-awaited plan to connect a second mainland stock exchange with Hong Kong's, further opening-up the A share market. Premier Li Keqiang said that stock connect is expected to open this year.

The Shenzhen-Hong Kong Stock Connect, which allows mainland investors to buy Hong Kong stocks and vice versa, had been expected for more than a year following a similar program between Shanghai and Hong Kong in 2014.

Zhang Xiaojun, a spokesman for the China Securities Regulatory Commission, said on Friday that main changes in the draft regulations include the range of application and confirming investors' more flexible currency exchange procedures.

"The CSRC's amendment concerning the currency exchange mechanism is good for investors, because the risks of the exchange rate can be relieved," said Banny Lam Chiu-kei, managing director at CEB International Investment Corp.

Lam said some investors already hold Hong Kong and US dollars, so they don't want to convert yuan while the RMB is falling. In the future, there's a possibility that investors could use Hong Kong dollars, US dollars and yuan to trade with brokers for Hong Kong stocks.

The launch of the Shenzhen-Hong Kong Stock Connect will not affect trading in the Shanghai-Hong Kong Stock Connect, Lam said, as the two markets focus on different kinds of companies. The Shanghai market comprises mostly large cap stock companies, such as large banks, while the Shenzhen market are mostly high-tech companies.

The Shanghai Composite Index added less than 0.1 percent to close at 3,070.3 on Friday. The Shenzhen Component Index rose by 0.14 percent, while the ChiNext startup index climbed by 0.42 percent. The Hang Seng Index climbed 0.4 percent, paring a weekly decline.

Hot Topics

Editor's Picks
...
南阳市| 改则县| 沙坪坝区| 新巴尔虎左旗| 合阳县| 霍城县| 柯坪县| 和政县| 呼图壁县| 平顺县| 关岭| 苗栗县| 大竹县| 年辖:市辖区| 昂仁县| 陕西省| 靖西县| 昭平县| 桃江县| 东海县| 鸡泽县| 井研县| 泰和县| 鄂温| 黄龙县| 社旗县| 铁岭县| 大理市| 孟州市| 南皮县| 屏山县| 句容市| 师宗县| 徐州市| 广汉市| 四子王旗| 普定县| 抚松县| 新龙县| 阿荣旗| 深圳市|