Shenzhen-HK equities connection awaits Chinese cabinet nod

Hong Kong

THE launch of a scheme that will connect the stock markets in Hong Kong and Shenzhen is awaiting approval from the State Council, China's cabinet, according to a senior official at the Shenzhen stock exchange.

Global investors have been waiting for regulators to announce a launch date since May for the Hong Kong-Shenzhen trading link, which will complement a scheme connecting Hong Kong with Shanghai, but the project has been dogged by technical problems. "We are still waiting for the final approval of the State Council and the joint declaration and announcement by the two regulatory bodies on the mainland and Hong Kong," Liu Fuzhong, vice-director of strategy and international relations at the Shenzhen Stock Exchange, told a conference on Monday.