HKMA welcomes the launch of Shenzhen-Hong Kong Stock Connect and enhancement to the Shanghai-Hong Kong Stock Connect
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The Hong Kong Monetary Authority (HKMA) welcomes the announcement of the impending launch of the Shenzhen-Hong Kong Stock Connect and enhancement to the Shanghai-Hong Kong Stock Connect.
The Chief Executive of the HKMA, Mr Norman Chan, said, “The Shanghai-Hong Kong Stock Connect has been operating smoothly since its launch in November 2014. In the past year or so, while the stock and foreign exchange markets in Hong Kong and the Mainland experienced heightened volatilities at times, currency conversion, settlement and liquidity arrangements arising from the Stock Connect scheme have been functioning well. The new mechanism has proved to be robust in meeting the challenges.”
“The Shenzhen-Hong Kong Stock Connect will provide an additional channel for mutual access to stock markets of the two places. It will further facilitate two-way investment flows and consolidate Hong Kong’s development as the global offshore RMB business hub. As the Shenzhen-Hong Kong Stock Connect rolls out, the HKMA will continue to closely monitor market development and provide RMB liquidity support to the market when necessary,” he added.
Ends/Tuesday, August 16, 2016
Issued at HKT 21:21
Issued at HKT 21:21
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