Profits made from a scheme linking the Shanghai and Hong Kong stock exchanges will be exempted from tax, China's Finance Ministry said on Friday - AFP Photo.
BEIJING: China will temporarily exempt taxes on profits made from a landmark scheme linking Shanghai and Hong Kong stock exchanges, the finance ministry said on Friday, removing a potential stumbling block for global investors eager to directly buy Chinese stocks for the first time.
The Shanghai-HK stock connect, to be launched on Nov 17, will allow international investors to trade Shanghai-listed shares via the HK stock exchange, and mainland investors to trade in HK shares via the Shanghai Stock Exchange.
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