Stock link to be eventually launched
Print Edition
SHANGHAI’S mayor said “initial preparations” were under way to enable global investors to trade Shanghai-listed shares via the Hong Kong exchange, asking investors to be patient after the trading scheme missed its launch date.
Mayor Yang Xiong yesterday said preparations were critical “because once it comes online, no error will be tolerated.” He did not provide a new target data for the stock connect link between the two exchanges — a milestone in the liberalization of the Chinese mainland’s capital markets.
“It’s a decision to be made by the regulators. Just be a little bit more patient. It will eventually be launched,” the mayor said on the sidelines of a conference.
The trading link had been due to go live on October 27, but the exchanges said they had not got regulatory nod.
The mainland’s securities regulator said on Thursday that the stock connect scheme was in its “final stage,” said an online report by Shanghai Securities News.
On Wednesday, Hong Kong stock market watchdog chief Ashley Alder said his agency had completed all regulatory steps needed for the launch.
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