Xinhua
30 Jun 2022, 09:48 GMT+10
BEIJING, June 30 (Xinhua) -- Trading of exchange-traded funds (ETFs) under the mainland-Hong Kong stock connect programs will commence on July 4.
Relevant business rules, operational plans and regulatory arrangements have been finalized, and technical systems are in place, the China Securities Regulatory Commission (CSRC) and Hong Kong Securities and Futures Commission (SFC) said in a joint announcement released Tuesday.
The CSRC and the SFC have agreed on arrangements regarding cross-boundary regulatory cooperation, investor education and other matters in relation to the inclusion of ETFs in stock connect schemes, the announcement said.
The launch is expected to promote the development of capital markets in both the Chinese mainland and Hong Kong.
The announcement came after a document was unveiled by the CSRC last week, in which the regulator specified the inclusion of ETFs in stock connect programs, and set out institutional arrangements and requirements for prospective investors and brokers.
The two regulators also pledged to continue efforts to enhance enforcement cooperation against illegal activities and market misconduct, and to respond promptly and appropriately to any contingencies or major events.
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