Hong Kong’s top finance official and regulator on Monday said preparations were under way to complete a direct stock exchange link-up between Hong Kong and Shenzhen.
Although they gave no detailed timetable, both said the preparatory work to proceed with a Shenzhen-Hong Kong stock connect scheme might not have to wait for the completion of a six-month review of the Hong Kong-Shanghai link-up.
Secretary for Financial Services and Treasury Chan Ka-keung told lawmakers that more market linkages between Hong Kong and the mainland are being studied.
“We are preparing to link up the stock markets between Hong Kong and Shenzhen. We are also reviewing the procedures to enhance the Hong Kong-Shanghai connect,” Chan said.
It’s only been three months, we expect turnover to increase in the longer term
Speaking at the same Legco meeting, Securities and Futures Commission chairman Carlson Tong Ka-shing said the SFC has increased its regulatory headcount by 37.5 per cent to 891 this year from 2011, to handle the extra work from cross-border trading.
