Mainland and HK capital markets connectivity marks 10th anniversary

This year marks the 10th anniversary of mutual access between the capital markets of mainland China and the Hong Kong Special Administrative Region (HKSAR). Paul Chan, Financial Secretary for the HKSAR Government, has published an article proposing three key points to promote further deepening of mutual access.

Photo by CFP

Paul Chan noted that the steady deepening and expansion of mutual access over the past 10 years has enabled the two capital markets to develop in tandem. Mainland investors trading Hong Kong stocks recorded an average daily turnover of RMB38 billion in the first three quarters of this year, a 40-fold increase compared with the first month after the launch of the Shanghai-Hong Kong Stock Connect in 2014, accounting for 16.9% of the total turnover of the Hong Kong stock market. The total market capitalization of the Hong Kong stock market so far stands at RMB35 trillion, about 40% higher than 10 years ago. Summing up the experience, Paul Chan pointed out that in promoting further development, the HKSAR will continue to focus on three main axes: to further develop the role of mutual access as a link between the Chinese mainland and international markets; to better play the roles of "firewall", "testing ground" and "capital-led platform"; and to prudently promote the internationalization of the RMB.(By Jia Zifan/China Youth Daily)

来源：中国青年报客户端