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Detailed rules of stock trade link unveiled
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THE Shanghai Stock Exchange released the final set of detailed rules for the long awaited stock trading link between the Chinese mainland and Hong Kong yesterday.
Most of the items in the set of draft rules for the Shanghai-Hong Kong Stock Connect remained, but authorities deleted one that bans securities margin trading.
The Shanghai bourse said the rules have considered factors of the market and international orientation, as well as strengthening supervision to prevent cross-border risks.
While the rules are set, preparation is still under way, said a source close to the matter from the Shanghai bourse.
On April 10, both securities watchdogs announced approval of the program run by the Shanghai and Hong Kong bourses. The Shanghai exchange then sought public opinion on the rules from April 29 to May 16.
The program allows investors of the two bourses to trade shares on each other’s exchanges, which will promote internationalization of the yuan and development of Hong Kong as an offshore yuan center.
The Shanghai exchange did not unveil when the scheme would be officially launched, leaving the market to speculate the end of October.
However, the authorities have said it will take approximately six months to prepare for the formal launch from April.
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