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LATEST FROM BUSINESS TIMES
BEIJING - All branches of the Chinese government support in principle a plan to allow mainland residents to invest directly in Hong Kong equities, Joseph Yam, head of the Hong Kong Monetary Authority, said on Thursday.
China's currency regulator announced plans for the so-called stocks 'through train' on August 20, but the start of the scheme has been delayed as the government works out detailed rules to control risks from the investment flows.
Speaking to reporters in Beijing, Mr Yam said there was no specific timetable for the start of the programme. -- REUTERS
Good luck to HSI.
China May Scrap Hong Kong Stock Plan, Morning Post Reports
2007-11-14 20:06 (New York)
By Clare Cheung
Nov. 15 (Bloomberg) -- China is considering scrapping the so-
called ``through-train'' pilot program that would let mainland
individuals invest directly in Hong Kong stocks, the South China
Morning Post reported, citing a Chinese academic.
The government may instead set up a ``general system'' under
which qualified institutions could conduct business with Hong
Kong ``and beyond'', the Hong Kong-based newspaper cited Li Yang,
finance institute director at the Chinese Academy of Social
Sciences, as saying, without elaborating.
China's currency regulator on Aug. 20 announced the pilot
program under which nationals with a Bank of China Ltd. account
in Tianjin would be allowed to buy Hong Kong equities. The Hang
Seng Index has since surged 34 percent.
2007-11-14 20:06 (New York)
By Clare Cheung
Nov. 15 (Bloomberg) -- China is considering scrapping the so-
called ``through-train'' pilot program that would let mainland
individuals invest directly in Hong Kong stocks, the South China
Morning Post reported, citing a Chinese academic.
The government may instead set up a ``general system'' under
which qualified institutions could conduct business with Hong
Kong ``and beyond'', the Hong Kong-based newspaper cited Li Yang,
finance institute director at the Chinese Academy of Social
Sciences, as saying, without elaborating.
China's currency regulator on Aug. 20 announced the pilot
program under which nationals with a Bank of China Ltd. account
in Tianjin would be allowed to buy Hong Kong equities. The Hang
Seng Index has since surged 34 percent.