The optimization of the calendar optimization of the Shanghai -Shenzhen -Hong Kong -Stock Exchange Trading Calendar is officially launched: the joint trading day can be opened to the Shanghai -Shenzhen -Hong Kong -Hong Kong Connect trading

Recently, with the consent of the State Council, the China Securities Regulatory Commission and the Hong Kong Securities Regulatory Commission approved the Shanghai Stock Exchange, the Shenzhen Stock Exchange, the Hong Kong Stock Exchange, the China Settlement and Hong Kong Settlement to carry out the optimization of the calendar of the Shanghai -Shenzhen -Hong Kong Connect. The Securities Regulatory Commission of the two places has issued the "Joint Announcement" to clarify the arrangement of relevant mechanisms. After the optimization, the Shanghai -Shenzhen -Hong Kong three joint trading days can open the Shanghai -Shenzhen -Shenzhen -Hong Kong -Hong Kong Connect transactions.

In 2014 and 2016, the Shanghai -Shenzhen -Hong Kong Stock Connect was opened, and the overall operation was stable. As of the end of June this year, Shanghai -Shenzhen Stock Connect holds a market value of 2.55 trillion yuan in A shares, and the Hong Kong Stock Connect holding a market value of Hong Kong stocks is 1.91 trillion yuan, which has become an important force participating in the operation of the two places. With the deepening of the development of the interconnection mechanism, investors in the two places have increased their demand for optimizing the calendar of Shanghai -Shenzhen -Hong Kong -connected transactions and increasing trading days. In this regard, the China Securities Regulatory Commission, together with the Hong Kong Securities Regulatory Commission, conducted in -depth research and demonstrations, and formulated the two -way trading calendar optimization plan for the two -place market institutions and investors on the basis of extensively soliciting the opinions of market institutions and investors in the two places. The main arrangements are: comprehensively considering the impact of increasing the trading day on investors, exchanges, settlement companies, and market institutions. On the basis of basically not changing the operation logic of the Shanghai -Shenzhen -Hong Kong -connected mechanism, open Shanghai and Shenzhen that is not closed because the settlement arrangement is not satisfied with the settlement arrangement. Hong Kong Trading Day. According to estimates, after the transaction calendar is optimized, it is expected that the number of days that cannot be traded will be reduced by about half. Specific arrangements, the two -place settlement company will carry out capital settlement overtime on holidays. The two -place exchanges and settlement companies will settle the settlement date of the new trading day and the equity registration date of the shares involved in the Shanghai -Shenzhen -Hong Kong Standard. Business and other adjustments are made and corresponding risk management measures are formulated.

The optimization of the calendar of the Shanghai -Shenzhen -Hong Kong -Stock Exchange Trading is an important measure to conscientiously implement the Party Central Committee and the State Council on further expanding the high -level openness of the capital market, which can better meet the reasonable needs of domestic and foreign investors to participate in the allocation of capital market equity assets from the two places. It is conducive to further improving the interconnection mechanism of the mainland and the Hong Kong stock market transaction, which is conducive to improving the attraction of the capital market between the two places, consolidating the status of Hong Kong's international financial center, and promoting the long -term stable and healthy development of the capital market in the Mainland and Hong Kong. In the next step, the China Securities Regulatory Commission and the Hong Kong Securities Regulatory Commission will guide the Shanghai Stock Exchange, the Shenzhen Stock Exchange, the Hong Kong Stock Exchange, China Settlement and Hong Kong settlement, and do a good job of various businesses and technical preparations to ensure that the optimization of the calendar of the Shanghai -Shenzhen -Hong Kong -connected transaction calendar is smooth.

Responsible editor: Tao Jiyan | Review: Li Zhen | Director: Wan Junwei

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