China's State Council has approved a plan to connect the Shenzhen and Hong Kong stock exchanges, Premier¹ Li Keqiang said Tuesday.

 

中国国务院总理李克强周二表示，国务院已批准深圳与香港的股票交易所连接计划。

 

Preparation for the launch of the Shenzhen-HK Stock Connect is generally in place, Li said at a State Council executive meeting.

 

A similar link between the Shanghai and Hong Kong bourses was launched in November 2014. It allows investors² on the mainland and those in Hong Kong to trade selected stocks on each other's exchanges.

 

"The roll-out of the Shenzhen-HK Stock Connect after the one between Shanghai and Hong Kong marks another concrete step for China's capital market in becoming more law-based, market-oriented and global. It will generate many positive outcomes," Li said.

 

The Shenzhen-HK Stock Connect will help investors share more of the dividends³ of economic growth on the Chinese mainland and in Hong Kong and promote closer partnership⁴ between the two markets while shoring up Hong Kong's role as an international financial center, Li added. 

 

The scheme will be launched at a proper time this year after rules and technological⁵ preparations are complete, China's securities watchdog said Friday.

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