The Shanghai-Hong Kong Stock Connect is undoubtedly a major development in terms of the opening up of mainland financial markets.

When the qualified domestic institutional investor (QDII) scheme was launched in 2006, mainland investors rushed to invest overseas. However, following the 2008 financial crisis and massive investment losses, which spooked Chinese investors, QDII take-up still remains well below its peak.

The "through train" that will link the stock exchanges of Hong Kong and Shanghai has become a focus of financial markets in both cities since its announcement in April.

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