Shanghai, Shenzhen Stock Connect daily quotas to quadruple from May 1
HONG KONG - The China Securities Regulatory Commission and the Hong Kong’s Securities and Futures Commission have jointly announced a quadrupling of the existing daily quota permitted under the Stock Connect schemes for Shanghai and Shenzhen.
From May 1, the Northbound daily quota will be increased from RMB13 billion for each of the Shanghai Connect and the Shenzhen Connect to RMB52 billion and the Southbound daily quota will be increased from RMB10.5 billion for each of the Shanghai Connect and the Shenzhen Connect to RMB42 billion.
HKEX Chief Executive Charles Li welcomed the announcement by Mainland Chinese and Hong Kong regulators. “We appreciate that the regulators have been responsive to evolving market needs,” he said.
“Since Stock Connect’s launch in 2014, it has continued to gain momentum as the world’s most effective mutual market access programme.” www.hkex.com.hk (ATI).