

(File photo)
Shanghai-Hong Kong Stock Connect has promoted internationalization of the renminbi (RMB), consolidated Hong Kong's position as an international financial center and contributed to construction of Shanghai international financial center, said a senior official from China's security watchdog.
China Securities Regulatory Commission vice-chairman, Fang Xinghai, said on the mainland regulator’s website Monday that plans were afoot to expand trading quotas and the range of stocks covered by the Shanghai-Hong Kong Stock Connect scheme, to increase cross-border regulatory and law enforcement cooperation and to push forward with the mutual recognition of funds and the establishment of Shenzhen-Hong Kong stock connect scheme
The Shanghai-HK scheme has operated steadily since its launch a year ago on Nov. 17, despite the crisis in the mainland's stock market last summer.
While overseas investors have paid continuous attention to mainland capital market, investors on the mainland are gradually adapted to this cross-border investment system and are in increasing demand to invest in overseas market, said Xu Lei, an investment advisor.
Shanghai stocks have attracted 121 billion yuan (USD 19.73 billion) through this investment channel, about 40 per cent of the 300-billion-yuan aggregate quota, and the investment produced a trade volume of 1.5 trillion yuan, according to the Shanghai Stock Exchange.
Hong Kong stocks have attracted 92.4 billion yuan through the program, about 37 per cent of the 250-billion-yuan annual quota, and the investment produced a trade volume of HKD 742 billion (USD 95.74 billion), according to Hong Kong Exchanges and Clearing Limited (HKEx).
Although the trading turnover is low, Charles Li Xiaojia, CEO of HKEx held the view that the Stock Connect would be better operated in a stable and safe condition at the beginning phase of its operation. Li said that the Stock Connect creates a two-way risky controllable and close operated capital market mode which is supervised by both mainland and Hong Kong. And this mode has been proved to be feasible.
Shanghai and Hong Kong exchanges joined hands to investigate in many financial cases under the scheme, providing better investment environment.
J-10B fighters with homegrown engine in test fligh
Photos of U.S. Navy intruding in South China Sea released
Cats who immediately regretted their life choices in photographs
Beautiful girl from police college becomes Internet hit
10 tons of copper coins unearthed in 2,000-yr old tomb
In Pics: Amazing Chinese fighters
Chinese, U.S. navies hold first-ever joint exercise in the Atlantic
When a Chinese woman marries an Indian man
Photos of beautiful teacher hit the Internet
Top 20 hottest women in the world in 2014
Top 10 hardest languages to learn
10 Chinese female stars with most beautiful faces
China’s Top 10 Unique Bridges, Highways and Roads
Melody makers
Autos on autopilot
Chinese buy slice of British education
US is bringing storms to South China SeaDay|Week