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The Through Train: Stock Connect's Impact and Future

  Author: ASIFMA
 December, 2014
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Shanghai-Hong Kong Stock Connect, though labeled a pilot project, is a major step forward for China’s cross-border investment strategy. It arrives at a time when the world’s most populous nation is in the middle of significant financial reform that seeks to bring globally accepted governance standards to the country’s capital markets and financial institutions. These reforms, announced at China’s Third Plenum of the 18th Party Congress in November 2013, include liberalizing the interest rate regime, reforming the country’s state-owned banking system, internationalizing China’s controlled currency – the renminbi (RMB) – and opening the country’s capital markets to more international investment. This last objective is where Shanghai-Hong Kong Stock Connect is targeted.

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