China's State Council has approved the a stock connect program between Hong Kong and Shenzhen, Premier Li Keqiang said at a council meeting on Tuesday, without specifying any likely launch date or other details.
"The basic preparation work for the stock connect scheme between Hong Kong and Shenzhen is ready. The State Council has already approved the necessary documentation to introduce the Shenzhen–Hong Kong Stock Connect," Li said during the council meeting.
The statement marked the first time a senior Chinese official had confirmed the country’s second cross-border stock trading scheme, after a Shanghai-Hong Kong Stock Connect was launched nearly two years ago.
"China’s decision to launch Shenzhen-Hong Kong Stock Connect demonstrates the country’s continuing commitment to liberalizing its financial sector and opening up it...
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