Hong Kong Exchanges and Clearing Limited (HKEX) and Shenzhen Stock Exchange (SZSE) have kicked off a series of international roadshows to promote Shenzhen-Hong Kong Stock Connect (Shenzhen Connect) with an event in Hong Kong.
Today’s event was highlighted by opening addresses from HKEX Chief Executive Charles Li and SZSE Chairman Wu Lijun. Representatives from HKEX, SZSE and China Securities Depository and Clearing Corporation Limited, or ChinaClear, gave presentations on the design and clearing mechanism of Shenzhen Connect, as well as characteristics of the Shenzhen market, to about 600 market participants and answered their questions.
Mr Li commented:
The joint roadshows we kicked off today are a major effort to promote the competitiveness of both the Hong Kong and Shenzhen markets. Shenzhen Connect will further improve the mutual market access between the Hong Kong and Mainland markets and reinforce Hong Kong’s position as the leading offshore Renminbi asset management centre.”
“The approval of Shenzhen Connect indicates that a solid step forward has been made in the international, legal and business development of China’s capital market. It also reinforces the cooperative relationship between the Mainland and Hong Kong,” Mr Wu added. “SZSE features innovative new-economy issuers, offering a unique asset class and expanding the scope of investment opportunities for overseas investors.”
After today’s kick-off, HKEX and SZSE will jointly hold a series of events in the Mainland and overseas to promote Shenzhen Connect, including:
- Roadshows for leading institutional investors in Europe and North America later this month;
- Training workshops for brokerage firms in the Mainland later this month; and
- High-level symposiums for senior executives from brokerage firms and institutional funds in the Mainland next month.
In addition, HKEX and the Investor Education Centre, a subsidiary of Hong Kong’s Securities and Futures Commission, will conduct a Shenzhen Connect workshop next month for individual investors in Hong Kong.
HKEX also teamed up with the Insurance Asset Management Association of China, or IAMAC, today to hold a joint seminar in Hong Kong on investing in the city’s securities market for about 40 chief executives and asset managers from leading Mainland insurance companies. In September, the China Insurance Regulatory Commission issued new rules to enable Mainland insurance funds to invest in Hong Kong stock market through the Stock Connect.