HKSAR gov't expresses gratitude for national support for further expanding mutual access between mainland, Hong Kong capital markets

  • World
  • Saturday, 20 Apr 2024

HONG KONG, April 19 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) government on Friday expressed gratitude for measures rolled out by the China Securities Regulatory Commission (CSRC) to further expand mutual access between the capital markets of the Chinese mainland and Hong Kong, as well as to encourage leading mainland enterprises to list in Hong Kong.

The CSRC on Friday vowed to expand the eligible product scope of equity exchange-traded funds under the Shanghai-Hong Kong Stock Connect and the Shenzhen-Hong Kong Stock Connect and to include real estate investment trusts (REITs) under the two Stock Connect schemes. It also pledged support to the inclusion of RMB stock trading counter under southbound trading of the Stock Connect program, as well as enhancing the arrangements for mutual recognition of funds.

"The measures announced today are important initiatives to support the further development of Hong Kong's financial markets," said HKSAR Chief Executive John Lee, adding that they will help increase the number of attractive investment products, provide more investment opportunities to investors from home and abroad, and enhance Hong Kong's status as an offshore RMB business center.

The HKSAR government will continue to enhance the competitiveness of Hong Kong's financial markets and add more impetus for growth, Lee said.

Financial Secretary of the HKSAR government Paul Chan said that the increase of leading mainland firms listed in Hong Kong will benefit Hong Kong's initial public offering market and the secondary market. The further expansion of product coverage under mutual market access will attract more capital to the mainland and Hong Kong markets and benefit long-term market development.

Moreover, enabling mainland investors to trade Hong Kong stocks using RMB through the southbound trading of the Stock Connect program will enhance the investment function of RMB offshore, Chan said.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In World

Venus has more volcanism than previously known, new analysis finds
U.S. stocks close mixed
Prosecutor says Trump hush money payment undermined 2016 election as trial nears end
Crude futures settle higher
U.S. dollar ticks up
Mass wedding plans deferred in Nigeria, some girls, women marry privately
Car accident in S. Iraq kills 5
French, German leaders say Ukraine allowed to strike inside Russia
China Focus: China committed to modernizing IP protection system
UN official stresses significance of Kunming Biodiversity Fund

Others Also Read