A woman walks past Exchange Square which houses the Hong Kong stock exchange in Hong Kong on April 27, 2022. (DALE DE LA REY / AFP)
HONG KONG – The China Securities Regulatory Commission will work with Hong Kong regulators to expand cross-border financial cooperation by introducing new measures, including making more stocks eligible under the Stock Connect program.
The CSRC supports Hong Kong’s introduction of yuan-denominated stock trading desks and will study the possibility of including it in the Stock Connect to promote the internationalization of the Chinese yuan, said CSRC Vice-Chairman Fang Xinghai
CSRC Vice-Chairman Fang Xinghai made the remarks at a forum on Friday, saying the securities regulator will push for the inclusion of more mainland-traded companies and Hong Kong-listed foreign companies in the cross-border Stock Connect program.
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The CSRC supports Hong Kong’s introduction of yuan-denominated stock trading desks and will study the possibility of including it in the Stock Connect to promote the internationalization of the Chinese yuan, Fang said.
The securities regulator will also support Hong Kong’s rolling out of Treasury futures and will push for the opening-up of the domestic Treasury futures market.
In addition, Fang said, China will implement its audit agreement with the United States and will strengthen communication with foreign institutional investors.
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More powerful and in-depth opening-up measures will be introduced to promote the regulations on the overseas listing, and expand new varieties of commodity and financial futures, he added.
evanliu@chinadailyhk.com