Shenzhen-HK stock connection ‘definitely’ on for this year, says CSRC chairman

Without giving a date, Liu Shiyu says project has technical issues

PUBLISHED : Saturday, 02 July, 2016, 12:21am
UPDATED : Saturday, 02 July, 2016, 12:21am

The chairman of the China Securities Regulatory Commission, Liu Shiyu, told press on the 19th anniversary of Hong Kong’s handover to China that the Shenzhen-Hong Kong Stock Connect trading scheme would “definitely” take place this year.

However, the project is stuck in “technical issues”, Liu said. He could not give a time for it to begin.

Mainland financial website Hexun reported the link between the Shenzhen and Hong Kong bourse is at its final testing phase on Friday. It said the Hong Kong stock exchange tested the system’s connectivity on June 27.

Earlier, CSRC deputy chairman Fang Xinghai said technical preparations for the connect programme between the Hong Kong and Shenzhen stock markets should take about “four months”.

Hong Kong Exchanges and Clearing chairman Charles Li Xiaojia did not respond to questions regarding the programme’s launch at the HKEX’s 16th anniversary on June 28. He did say that market uncertainty had no direct relation to the programme’s launch schedule.