Southbound Connect ID system on way

Business | Avery Chen and Bloomberg 18 Jan 2019

The Securities and Futures Commission is expected to launch a real-time investor identification system for southbound trading under Shanghai Connect and Shenzhen Connect this quarter, chairman Tim Lui Tim-leung said yesterday.

Lui also said the SFC will hold public consultations about using the new system for the entire Shanghai Connect and Shenzhen Connect by the first half of this year.

Meanwhile, Charles Li Xiaojia, chief executive of Hong Kong Exchanges and Clearing (0388), said the Bond Connect is the largest measure for risk management in China's bond market, and mainland investors only brought their own bonds in the past, posing a significant concentration risk.

"We have some thoughts about how to further open up the bond market," People's Bank of China Deputy Governor Pan Gongsheng said at a forum yesterday. "We're researching and plan to issue new index products such as bond ETFs to facilitate foreign investors, and will improve connectivity between central custodian institutions."

In other news, shares of China Gingko Education (1851), a mainland higher education provider, traded 0.69 percent lower than its IPO price, closing at HK$1.43 in the gray market before its market debut today.

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