BEIJING (AFP) – China will announce a start date for a delayed trading link between Hong Kong and Shanghai’s stock exchanges “soon”, Hong Kong chief executive CY Leung said Sunday.
The bourse connection originally slated for last month is expected to allow the equivalent of $3.8 billion a day in cross-border transactions, and is seen as a key step towards greater financial liberalisation in the world’s second largest economy.
But it was unexpectedly delayed as pro-democracy protesters continued to shut down sections of the financial hub, though a senior official denied a connection to the demonstrations.
“The relevant authorities will make an announcement soon,” Leung told a forum on the sidelines of an Asia Pacific Economic Cooperation (Apec) CEO summit in Beijing.
Leung added that he asked China’s President Xi Jinping for the stock connect to be implemented “as soon as possible”.