Trial markets link underlines HK's role
April 10, 2014
A pilot programme for establishing mutual stock market access between Hong Kong and Shanghai underlines the role that Hong Kong plays as China’s international financial centre, Chief Executive CY Leung says.
Briefing reporters in Hainan today, Mr Leung said the programme was a meaningful development for both cities, noting Premier Li Keqiang chose the occasion of the Boao Asia Forum to announce it himself.
"It underlines the role that Hong Kong plays as … an international financial centre among all cities in the country, and it also signifies the ongoing contribution that Hong Kong, as one of the cities in the country, can contribute to the ongoing reform and opening up of the Chinese economy."
He said it is important both sides pay due attention to investor protection while opening their markets to the other. Regulatory bodies and stock exchanges in both places would work out the programme details.
Secretary for Financial Services & the Treasury Prof KC Chan said the programme would also boost the city’s renminbi business development.
The Government will assist regulatory bodies and Hong Kong Exchanges & Clearing in implementing the programme with Mainland authorities, he said.
