|Premier Li gives blessing to Shanghai-HKEx stock trading link
China will create conditions to establish a Shanghai-Hong Kong stock exchanges connectivity mechanism, Premier Li Keqiang said today.
The move aims to promote two-way opening-up and healthy development of the capital markets on the mainland and Hong Kong, the premier said at the opening ceremony of the 2014 annual conference of the Boao Forum for Asia in southern Hainan Province.
“We will carry out a new round of opening-up at a high level," Li said, adding that an important part of this endeavor is to further open up the service sector, including the capital market.
Last week, a media report said that Hong Kong Exchanges and Clearing and the Shanghai Stock Exchange were to couple the trading systems so that investors may trade on stocks in both exchanges.
Li said China will introduce a system of listing government powers, consider the adoption of a management model based on a negative list approach, accumulate useful experience through the development of the China (Shanghai) Pilot Free Trade Zone and spread it to other areas.
“This will enable us to expand market access, foster a better business environment to unleash greater dividends of reform, spark social creativity and stabilize market expectations," Li said.
The four-day conference features the theme “Asia's New Future: Identifying New Growth Drivers" this year.—Xinhua/The Standard