Tianjin(GB)  |  Binhai(GB)  |  TJTV  |  Tianjin Free Trade Zone  | 

About Enorth.com.cn
  |  Chairman & President  |  Web Channels 
Home | News | Photo | Biz Tianjin | Travel in Tianjin | Learn About Tianjin | Talents in Tianjin | Binhai New Area

your position :enorth.com.cn > English > News > tianjin  content
China's direct HK stock trading scheme seen delayed until October
enorth.com.cn   2007-09-17 11:30


(Forbes)China is unlikely to approve the launch this month of a scheme permitting mainland residents to invest directly in the Hong Kong stock market, with the likely launch date now seen falling after the October holidays, the official Shanghai Securities News reported.

Citing an 'authoritative' source, the newspaper said that the earliest possible date for the scheme to take effect is after the National Day holiday, which begin on Oct 1.

'A lot more preparation work needs to be done,' the source was quoted as saying.

The State Administration of Foreign Exchange announced on Aug 20 that mainland individuals would be able to directly trade in Hong Kong stocks through Bank of China branches in Tianjin, where the scheme is being trialled, amid efforts to reduce liquidity in the system and moderate the growth of China's foreign exchange reserves.

According to media reports, the government has held back on approving the scheme's expansion beyond Tianjin because of fears the direct investment program may take away funds from domestic stock markets or compete with the Qualified Domestic Institutional Investor scheme.

The newspaper also said that the central bank is still studying money-laundering issues to prevent the scheme from being used as a conduit for such activities.


Most Popular

Binhai heart to Tianjin's plans
Tianjin Tianlian to get 3b yuan injection
Tianjin: promoting the energy saving level through the optimization of structure and the improvement of awareness
Tianjin High-Tech Developmental Park improves independent innovation capacity
Tianjin builds 20 important service projects
Tianjin-Binhai Light Railway makes a breakthrough in passenger flow
Memory of An Jihe, Engineer of Tianjin Tiantie Group
Tianjin Railway Station Rebuilding Project to be finished in late 2007
Tianjin Petrochemical makes all-out to forge a state-level petrochemical base
Tianjin Binhai to attract foreign investment
Tianjin gives priority to the development of public transport
City card is available in Tianjin now
Tianjin Invests 14 Million yuan, Wuqing 180 Thousand Farmers No Longer Drink Fluoric Water
“General Director” Zhang Lili Wants to Build China’s Biggest Free Trade Zone
Tianjin: “Underwater Express” passing through Xidahu Lake

Editor: Zhang Jialu

Copyright (C) 2000-2008 Enorth.com.cn, Tianjin ENORTH NETNEWS Co.,LTD.All rights reserved