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China Securities Regulatory Commission chairman Liu Shiyu says the Shenzhen-Hong Kong stock trading scheme will begin this year. Photo: EPAepa05171535 A picture made available 20 February 2016 shows Liu Shiyu, then vice governor of People's Bank of China, at a presser in Beijing, China, 13 March 2013. The chief of China's top securities regulator has been ousted amid growing criticism of the agency's actions during months of volatility in the country's main stock markets. Xiao Gang, 57, chairman of the China Securities Regulatory Commission since March 2013, was removed from his post as well as that of Communist Party leader of the commission, the official Xinhua news agency reported Saturday. Liu Shiyu, chairman of the Agriculture Bank of China, was appointed to replace Xiao as chairman and commission party leader, Xinhua cited the Communist Party Central Committee and State Council as saying. EPA/JOY CHINA OUT
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Shenzhen-HK stock connection ‘definitely’ on for this year, says CSRC chairman

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

SCMP Reporter
SCMP Reporter
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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.

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