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China may scrap plans to invest in HK stocks
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llssmm
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15-Nov-2007 18:00
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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 |
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Pinnacle
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15-Nov-2007 17:43
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Good luck to HSI. |
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787180
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15-Nov-2007 17:34
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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. |
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