Shang­hai, HK to do cross-bor­der stock trad­ing

China Daily (Canada) - - NEWSCAPSULE -

A pi­lot pro­gram for cross-bor­der stock trad­ing be­tween the Hong Kong and Shang­hai stock mar­kets will be­gin in six months and en­able deal­ers to in­vest in des­ig­nated shares through lo­cal se­cu­ri­ties firms or bro­kers.

The China Se­cu­ri­ties Reg­u­la­tory Com­mis­sion and the Se­cu­ri­ties and Fu­tures Com­mis­sion of Hong Kong an­nounced the pro­gram.

It will

al­low a max­i­mum cross-bor­der in­vest­ment of 550 bil­lion yuan($90 bil­lion). In­vestors in Shang­hai and Hong Kong will be able to buy and sell up to 23.5 bil­lion yuan of stocks in cer­tain com­pa­nies each day on each oth­ers’ ex­changes un­der the pro­gram. Hong Kong and for­eign in­vestors will be al­lowed to buy as much as 13 bil­lion yuan a day in Shang­hailisted stocks through the Hong Kong mar­ket. (Photo 1)

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