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China regulator says preparing for Shenzhen-Hong Kong stock connect

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The China Securities Regulatory Commission (CSRC) is actively preparing for the Shenzhen-Hong Kong stock connect and will launch the scheme sometime this year, the regulator said Friday.

[SHANGHAI] The China Securities Regulatory Commission (CSRC) is actively preparing for the Shenzhen-Hong Kong stock connect and will launch the scheme sometime this year, the regulator said Friday.

The regulator has also set up a small working group to coordinate the launch, CSRC said in a statement on its official microblog.

The online financial magazine Caixin had reported on Thursday that CSRC had set up such a group.

In March, Premier Li Keqiang also stated that China would strive to launch the connect this year.

The Shenzhen-Hong Kong Stock Connect is a cross-border investment programme modeled after the Shanghai-Hong Kong Stock Connect, which was launched in Nov 2014, and allows mainland investors to buy Hong Kong stocks, and vice versa.

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Hong Kong Exchanges and Clearing Ltd (HKEX) said in its mid-year report that the exchange was technically ready for the Shenzhen-Hong Kong Connect scheme, and was only waiting for regulatory approval.

REUTERS

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