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Connector to enhance financial activity in HK

Reporter: Ye Chenglu 丨 CCTV.com

12-02-2016 16:30 BJT

Turning to the Shenzhen-Hong Kong stock connect. The clock is ticking as the connector will have a final round of system tests on Saturday before formally launching next Monday.

Charles Li Xiaojia, the CEO of Hong Kong Exchanges and Clearing, says the connect will have less restrictions compared with the Shanghai Hong Kong stock connect. He says it will also offer more eligible stocks to investors from the mainland and Hong Kong.

The Chinese Finance Ministry also announced an exemption on income taxes from profits made by individual investors through the link.

Analysts believe the stock connect will be a landmark event for China's capital market openness and will also consolidate Hong Kong's position as an Asian financial center. Listen.

"After the launch of the stock connect, investors from the Chinese mainland will have free access to stocks listed on the Hong Kong stock exchange. Vice versa, the mainland stocks will also be accessible to Hong Kong stock traders or even global investors at large. So this will make Hong Kong into a super-connector for capital free-flows between the Chinese mainland and the world."said Hu Zhanghong,president of Chinese Financial assoc. of HK.

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