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China Says the Launch of the Shenzhen-Hong Kong Stock Connect Has Been Approved

Shanghai-Hong Kong Stock Connect LaunchedShanghai-Hong Kong Stock Connect Launched
Launching ceremony of Shanghai-Hong Kong Stock Connect is held on Nov. 17, 2014 in Shanghai, China. VCG/ VCG via Getty Images

China’s premier Li Keqiang said the State Council had approved the launch of the Shenzhen-Hong Kong Stock Connect program linking the two exchanges, without giving further details on the launch date.

Li, in comments posted on a government website, said that preparatory work for the long-awaited program had been basically completed.

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“The move marks a solid step toward better legal structure and international market orientation of China’s capital markets,” Li was quoted as saying.

The China Securities Regulatory Commission (CSRC) said earlier in August that it would launch the scheme sometime this year.