Shanghai, HK to do cross-border stock trading
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.
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)