Xu Zhengyu: In the future, we will continue to optimize connectivity to provide investors with more diversified choices.
18/11/2024
GMT Eight
In the ten years since its opening, the turnover under the interconnection mechanism has also risen significantly. As of October this year, the daily turnover of the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect has reached 136.3 billion RMB, an increase of over 23 times since 2014. The daily turnover of the Southbound Connect has reached 43.9 billion Hong Kong dollars, an increase of over 46 times since 2014. Hong Kong Financial Secretary Paul Chan said that in the future, Hong Kong will actively discuss with relevant mainland departments to continuously optimize the interconnection mechanism, expand product offerings, and improve trading mechanisms to provide investors with more diversified choices.
According to reports, since the opening of the Shanghai-Hong Kong Stock Connect in November 2014, and subsequent optimizations and expansions such as the Shenzhen-Hong Kong Stock Connect, Bond Connect, and Cross-border Wealth Management Connect, there are now over 3,300 eligible stocks under the Shanghai-Hong Kong Stock Connect, covering 90% of the total market value of listed companies in the three regions.
Paul Chan said on social media, "The interconnection mechanism has promoted two-way capital flow between the motherland and the world, unlocking the capital keys of the two regions. By providing an innovative, stable, and efficient trading model, it makes it easier for international investors to participate in the development of the mainland capital market and provides mainland investors with opportunities to invest in the international market through the Hong Kong platform. The interconnection mechanism reflects Hong Kong's role as a 'super connector' and 'super value-added person', continuously consolidating and enhancing the status of an international financial center."