The story appears on

Page A8

November 23, 2016

GET this page in PDF

Free for subscribers

View shopping cart

Related News

HomeBusinessFinance

Mechanism to facilitate connectivity

THE central bank yesterday announced a capital market connectivity mechanism between the Chinese mainland and Hong Kong.

Hong Kong Securities Clearing Co is allowed to open a special yuan bank account at a mainland bank, which will deal with businesses on the Shanghai Stock Exchange and Shenzhen Stock Exchange, according to a circular jointly released by the PeopleÕs Bank of China and the China Securities Regulatory Commission.

China Securities Depository and Clearing Co is also allowed a special bank account at a Hong Kong bank to deal with the Hong Kong stock exchange, said the circular.

The two banks should abide by the law to carry out obligations of anti-money laundering, anti-terrorist financing and anti-tax evasion, said the circular.

The mechanism aims to facilitate capital market connectivity between the Chinese mainland and Hong Kong and standardize cash flow, said the circular.

 


 

Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

娌叕缃戝畨澶 31010602000204鍙

Email this to your friend