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Sunday, August 28, 2016, 09:36

Early Nov deadline for Shenzhen-HK link prep

By Xinhua

BEIJING - The Shenzhen stock exchange has urged securities companies to complete all preparation work for the Shenzhen-Hong Kong Stock Connect program by early November.

Before the end of September, companies should develop the technical systems required for participating in operational tests, the bourse said in a recent statement.

"Some securities companies have already finished technological development and will soon complete the entire preparation process," it said.

All preparation should be completed by early November in order to meet requirements for the official launch of the stock connect program, the statement said.

The China Securities Regulatory Commission said earlier this month that it signed a joint announcement with the Hong Kong Securities and Futures Commission on approving the establishment of the Shenzhen-HK Stock Connect mechanism.

The formal launch will only take place after full preparation for trading and clearing rules and systems, regulatory approvals, operational and technical systems, regulatory and enforcement cooperation, as well as investor education, the commission said.

A similar link between the Shanghai and Hong Kong bourses was launched in November 2014. Both schemes allow investors on the mainland and those in Hong Kong to trade selected stocks on each other's exchanges within a fixed daily quota.

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