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On August 12, CSRC and the Securities and Futures Commission of Hong Kong jointly released the Joint Announcement, which, in principle, approves SZSE, Shanghai Stock Exchange, the Stock Exchange of Hong Kong Limited (“HKEX”), China Securities Depository and Clearing Corporation Limited and Hong Kong Securities Clearing Company Limited (“HKSCC”) to optimize and adjust the trading calendar of the Shenzhen-Hong Kong Stock Connect and the Shanghai-Hong Kong Stock Connect (“Stock Connect”). That will increase tradable days for investors, thus better ensuring trading continuity for investors and helping deepen the connectivity between the two capital markets.
Due to difference in holidays and settlement mechanisms between the two markets, the Stock Connect are currently only open for trading on days when both markets are open and when settlement arrangements can be made. After the optimization and adjustment, the Stock Connect will be open on all days when both markets are open for trading. The transaction settlement activities on new trading days will still be subject to the local regulatory requirements and business rules in the place where the settlement occurs.
SZSE will, according to the overall plan of CSRC, work with relevant parties to optimize the trading calendar and make relevant technical preparations to fully ensure the stable implementation of the optimization and adjustment. Next, it will continue to leverage its position advantages and functions and actively integrate into the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Pilot demonstration area of socialism with Chinese characteristics. It will continue to strengthen communication and cooperation with HKEX, further optimize the Stock Connect mechanism, and support deeper, broader and higher-level two-way opening up.
