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Today, the China Securities Regulatory Commission (CSRC) and the Securities and Futures Commission of Hong Kong (SFC) issued a Joint Announcement, which in principle approved the Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE), the Stock Exchange of Hong Kong Ltd. (SEHK), China Securities Depository and Clearing Corporation Limited (CSDC) and Hong Kong Securities Clearing Company Ltd. (HKSCC) to optimize and adjust the trading calendar of Shanghai-Shenzhen-Hong Kong Stock Connect. By increasing the number of trading days for investors, this optimization better ensures the trading continuity of investors and is expected to deepen the stock connect between the capital markets of mainland and Hong Kong.
Due to the differences in holidays and settlement mechanisms, the Shanghai-Shenzhen-Hong Kong Stock Connect is currently only open on days when both markets are trading and settlement arrangements are available. After this optimization and adjustment, the Shanghai-Shenzhen-Hong Kong Stock Connect will be fully opened when the three exchanges are trading days. The trading settlement of new trading days will still comply with the regulations and business rules of the place where the settlement takes place. In the case where the local market is a holiday but the other market is a trading day, the existing arrangements for Shanghai-Shenzhen-Hong Kong Stock Connect will be followed and trading will not be possible.
At present, the SSE is working with relevant parties on the business and technical preparations for trading calendar optimization in accordance with the unified deployment of the CSRC, so as to ensure implementation within the timeframe required by the Joint Announcement. All along, the SSE has been firmly upholding the opening up of the capital market to contribute to Shanghai's efforts in developing into an international financial center. In the new context, the SSE will maintain its focus, continue to promote the optimization and improvement of the stock connect mechanism, constantly enhance the inclusiveness and adaptability of the system, further promote the two-way opening up and healthy development of the capital markets of mainland and Hong Kong, support the consolidation of Hong Kong's status as an international financial center, form a new pattern of high-level opening up of the capital market, and promote the dual circulation development of domestic and international economies.
