China approves connecting of Shenzhen, HK bourses
China’s State Council has approved connecting the Shenzhen and Hong Kong stock exchanges.
Preparation for the ShenzhenHK Stock Connect is generally in place, Chinese Premier Li Keqiang said Tuesday in remarks at a State Council executive meeting. The link will be launched this year after regulatory rules and technological preparations are completed, China’s securities watchdog said.
The Shenzhen-HK Stock Connect will help investors to share more of the dividends from economic growth on the Chinese mainland and in Hong Kong and promote a closer partnership between the two markets while shoring up Hong Kong’s role as an international financial center, Li said.
Some 20 artists from around the world are building sand sculptures of landmarks of G20 countries to greet the upcoming G20 Summit in Hangzhou, capital of Zhejiang province. This photo shows a sand sculpture of the miniature Disney Castle.