Arab Today, arab today hong kong exchange eyes commodities connect with chinese mainland
Last Updated : GMT 21:53:08
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Hong Kong exchange eyes commodities connect with Chinese mainland

Arab Today, arab today

Arab Today, arab today Hong Kong exchange eyes commodities connect with Chinese mainland

Hong Kong's stock exchange
Hong Kong - XINHUA

Hong Kong's stock exchange is exploring the possibility of setting up a commodities link with the Chinese mainland similar to the stock connect program launched with Shanghai in November, said Charles Li Xiaojia, CEO of Hong Kong Exchanges and Clearing Limited (HKEx), on Wednesday.

Speaking at LME Week Asia 2015 which is organized by HKEx, Li said HKEx hasn't yet identified which exchange on the mainland would make a suitable partner for the proposed commodities link and the details are being worked out.

"We are discussing with the relevant authorities of the Central Government regarding the launch of the Shenzhen-Hong Kong Stock Connect and the enhancement of the Shanghai-Hong Kong Stock Connect to take the mutual market access scheme to the next level, " said John C Tsang, the Financial Secretary, at the conference.

Tsang added that the Stock Connect has catalyzed two-way RMB fund flow between the onshore and offshore markets, while further increasing the liquidity of the offshore RMB market in Hong Kong.

"We are also looking forward to the implementation of the mutual recognition of funds between the Mainland and Hong Kong," said Tsang.

The Financial Secretary also look forward to development on another two fronts, i.e., the "One Belt, One Road" initiatives and the Asian Infrastructure Investment Bank, which will help Hong Kong identify even more opportunities.

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