Residents of Shanghai, Shenzhen Allowed to Buy HK Stocks
Filed in archive Stocks on September 11, 2007
Some questions still exist about whether the Beijing government will eventually allow all Mainland residents to buy and sell stock on the Hong Kong stock exchange. But a pilot program to allow Mainland residents to do just that is being expanded, according to Forbes.
The plan to let mainland China residents trade on the HKEX is being piloted with Tianjin residents having access to the market through the Bank of China. Forbes is reporting that the pilot project is being extended to now include residents of Shanghai and Shenzhen. The number of banks involved is also being increased.
When the project was first announced on August 20 stocks in Hong Kong jumped 18%. But it became unclear around the end of August whether the plan would actually be put into place. This appears to be a step forward on the new investment policy. Time will tell...
Tags: HKEX Shanghai Shenzhen
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