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Shanghai Stock Exchange

China To Widen Market Access For Overseas Investors, Stocks Rally

China plans to allow overseas investors to directly trade 13 billion yuan ($2.1 billion) of mainland-listed shares per day via the Hong Kong Exchanges & Clearings (HKEx), said the China Securities Regulatory Commission (CSRC) on Thursday in a joint statement with Hong Kong's securities regulator. Meanwhile, mainland investors can also buy 10.5 billion yuan of Hong Kong-listed shares a day via the Shanghai Stock Exchange, as part of the "mutual market connectivity scheme" between Hong Kong and Shanghai. The pilot program was scheduled to start officially in six months, the regulators said. The announcement followed earlier remarks by Chinese Premier Li Keqiang, who stressed that China would further open up its service industry and establish mutual market access between Shanghai and Hong Kong. The HKEx also issued a statement shortly after the announcement, saying that the program is "a major breakthrough for the opening up of China's capital markets." Shares of the HKEx had halted tradi...

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