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The Shenzhen Stock Exchange Accelerates The Implementation Of Financial Opening Measures Ensures Safe And Smooth Operation Of Shenzhen-Hong Kong Stock Connect

Date 12/04/2018

Today, the China Securities Regulatory Commission (“CSRC”) and the Securities and Futures Commission of Hong Kong (“SFC”) issued a "Joint Announcement," agreeing to expand the daily quota for interconnection. Among them, the daily quota for eligible shares of Shenzhen Connect expanded from 13 billion yuan to 52 billion yuan, and the daily quota for eligible shares of Hong Kong Connect increased from 10.5 billion yuan to 42 billion yuan, both of which come into effect as of May 1, 2018. This is an important measure of implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and expanding the opening of the financial sector to the outside world. It fully demonstrates China’s capital markets’ confidence and determination in opening to the outside world, and is conducive to better meeting the demand of overseas long-term institutional investors in participation in the A-share market.

Since the launch of Shenzhen-Hong Kong Stock Connect, the SZSE, under the unified leadership and deployment of the CSRC, together with the relevant parties such as the HKEX, CSDC and other parties, has spared no effort to maintain the smooth and orderly operation of Shenzhen-Hong Kong Stock Connect. As of March 31, 2018, the cumulative transaction volume of Shenzhen-Hong Kong Stock Connect was 2.20 trillion yuan, and the overall net inflow of cross-border funds was 35.149 billion yuan. Shenzhen-Hong Kong Stock Connect’s operation achieved remarkable results, demonstrating the vitality of China's economic transformation, innovation and development, and have a positive and far-reaching impact in the reform and development of China’s the capital market.

The SZSE issued the "Notice on Adjusting the Daily Quota Limit for eligible shares of Hong Kong Connect under the Shenzhen-Hong Kong Stock Connect" today, in accordance with relevant arrangements in the "Joint Announcement". The SZSE prompted the market participants to make relevant preparations, made the adaptation on relevant technical systems, and resolutely implemented measures to expand the opening up of the financial sector. In the next step, the SZSE will pay close attention to the market operation after the expansion of daily quota for Shenzhen-Hong Kong Stock Connect, continuously strengthen transaction monitoring and supervision collaboration, speed up the implementation of see-through transaction supervision arrangements, improve the efficiency of cross-border supervision, and promote the improvement of interconnection mechanisms, maintain the safe and stable operation of the market and serve the reciprocal and win-win new pattern of international cooperation.