China has set up special group to launch Shenzhen-HK stock connect: Caixin
- Futures flat as earnings season gathers pace
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Barclays Downgrades Apple (AAPL) to Equalweight, Concerned India/China Will not Emerge As Growth Catalysts
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
SHANGHAI (Reuters) - China's securities regulator recently set up a special work group tasked with launching the Shenzhen-Hong Kong Stock Connect scheme, Chinese magazine Caixin reported on its website.
The group, headed by Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), is responsible for coordinating efforts among various departments within the CSRC, relevant government bodies, as well as between Chinese and Hong Kong regulators, according to Caixin.
The Shenzhen-Hong Kong Stock Connect is a cross-border investment program modeled after the Shanghai-Hong Kong Stock Connect, which was launched in Nov. 2014, and allows mainland investors to buy Hong Kong stocks, and vice versa.
Hong Kong Exchanges and Clearing Ltd (HKEX) <0388.HK> said in its mid-year report that the exchange was technically ready for the Shenzhen-Hong Kong Connect scheme, and was only waiting for regulatory approval.
Chinese Premier Li Keqiang said in March that China would strive to launch the connect scheme this year.
(Reporting by Samuel Shen and Pete Sweeney; Editing by Biju Dwarakanath)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Court appeal argues California emissions trading plan akin to 'illegal tax'
- Lockheed warns of material weakness in Sikorsky financial statements
- U.S. Libor falls by most since September
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!