Published On: Tue, Nov 18th, 2014

HKEx Celebrates The Launch Of Shanghai-Hong Kong Stock Connect

Charles Li CEO HKEx -

Charles Li CEO HKEx –

Hong Kong Exchanges and Clearing Limited (HKEx) hosted a ceremony at its Exhibition Hall on 17 November to celebrate the successful launch of Shanghai-Hong Kong Stock Connect with about 500 guests and journalists.

The Chief Executive of the Hong Kong Special Administrative Region, C Y Leung, was the guest of honour. He was joined by the Acting Financial Secretary Professor K C Chan, Chief Executive of the Hong Kong Monetary Authority (HKMA) Norman Chan, Hong Kong Securities and Futures Commission (SFC) Chairman Carlson Tong and Deputy CEO Alexa Lam, the Deputy Director of the Central Government’s Liaison Office in Hong Kong Qiu Hong, China Securities Regulatory Commission (CSRC) Vice Chairman Liu Xinhua, Shanghai Stock Exchange (SSE) Deputy General Manager Xu Ming, Shenzhen Stock Exchange (SZSE) General Manager Song Liping, as well as the Head of the CSDC Hong Kong Subsidiary Preparatory Task Force Yao Meng.

Shanghai-Hong Kong Stock Connect is a mutual market access programme that allows investment in eligible Shanghai-listed shares through the Stock Exchange of Hong Kong and eligible Hong Kong-listed shares through the Shanghai Stock Exchange.

Hong Kong SAR Chief Executive C Y Leung said the scheme highlights Hong Kong’s unique role in facilitating the country’s economic development. “Hong Kong has the combined advantages of ‘One Country’ and ‘Two Systems’,” he said. “We also offer the unique feature of being part of China and yet outside the Mainland. We are therefore the ‘super-connector’ between the rest of the country and the rest of the world. Stock Connect aligns the Mainland market with the international markets and is the upgraded version of Hong Kong as the ‘super-connector’ to and from China.”

“This is the first time that investors in Shanghai and Hong Kong markets, be them individuals or institutions, are able to trade listed shares in the other market, through their own local brokers and exchange,” said HKEx Chairman C K Chow. “It is a breakthrough in the opening up of China’s financial markets and a great milestone in the development of Hong Kong as a unique gateway between mainland and international investors.”

HKEx Chief Executive Charles Li also spoke at the ceremony about the historic nature of the programme. “This is a long term scheme and its success will be measured in years, not days or weeks. The immediate achievement is the infrastructure itself, which connects such vastly different and disparate markets and systems,” Li said. “The regulators, exchanges, and clearing houses on both sides of the boundary have worked extremely hard over the last seven months to make today a reality. I want to thank everyone in the market for their support and I look forward to being on this journey for a long time.”

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