China premier says cabinet approves launch of Shenzhen-Hong Kong Stock Connect

[SHANGHAI] China's premier Li Keqiang said the State Council had approved the launch of the Shenzhen-Hong Kong Stock Connect programme linking the two exchanges, without giving further details on the launch date.

Mr Li, in comments posted on a government website, said that preparatory work for the long-awaited programme had been basically completed.

"The move marks a solid step toward better legal structure and international market orientation of China's capital markets," Mr Li was quoted as saying.

The China Securities Regulatory Commission (CSRC) said earlier in August that it would launch the scheme sometime this year.

REUTERS