HKEx eyes mainland commodities link
Print Edition
HONG Kong’s stock exchange is exploring the possibility of setting up a commodities link with the Chinese mainland similar to the stock connect program launched with Shanghai in November, Charles Li Xiaojia, CEO of Hong Kong Exchanges and Clearing Ltd, said yesterday.
Speaking at LME Week Asia 2015 which is organized by HKEx, Li said HKEx hasn’t yet identified which exchange on the mainland would make a suitable partner for the proposed commodities link and the details are being worked out.
Hong Kong’s Financial Secretary John Tsang said at the event: “We are discussing with the relevant authorities of the central government regarding the launch of the Shenzhen-Hong Kong Stock Connect and the enhancement of the Shanghai-Hong Kong Stock Connect to take the mutual market access scheme to the next level.”
Tsang added that the stock connect has catalyzed two-way yuan fund flow between the onshore and offshore markets, while further raising the liquidity of the offshore yuan market in Hong Kong.
“We are also looking forward to the implementation of the mutual recognition of funds between the mainland and Hong Kong,” said Tsang.
He said he is looking forward to development on another two fronts — the “One Belt, One Road” initiative and the Asian Infrastructure Investment Bank, which will help Hong Kong identify even more opportunities.
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