HKEX’s Stock Connect seminar series made a stop in Haikou, Hainan today, giving investors and brokers a chance to learn more about Stock Connect and the operation of the Hong Kong market.
"It is a good opportunity for Hainan brokers and financial advisors to learn about the Hong Kong securities market so they can offer better services to Mainland investors for Southbound trading," said Fu Guo, Deputy Secretary-General of the Securities and Futures Association of Hainan Province.
Around 230 representatives from Hainan brokers and other financial institutions attended the seminar. HKEX speakers presented the latest Southbound trading developments and financing models in the Hong Kong market and shared regulatory updates on backdoor listings and delisting procedures in the city.
Matthew Wang, HKEX's Assistant Vice President for Mainland Affairs, said Mainland investors’ participation in the Hong Kong market has been growing, driven by the asset allocation needs. Learning more about information disclosure and other regulatory arrangements in Hong Kong can help Mainland investors better understand the operation of Hong Kong market and seize investment opportunities, he said.
HKEX statistics showed that the aggregate quota balance for Southbound trading stood at RMB 92.6 billion, meaning 62.96 per cent of the Southbound aggregate quota has been used as of 2 June. The turnover of Southbound buy trades surged over 74 per cent in May to HK$38.9 billion from HK$22.3 billion in April.
Wang Zhongquan, Manager of the Issuer Services Department at China Clear Shanghai Branch explained the settlement arrangements and corporate actions under Stock Connect.
Meanwhile Jennifer Chan, HKEX's Vice President for China Client and Marketing Services, introduced financial products in the Hong Kong market.
The Stock Connect Joint Training Series was launched in May, and will tour other provinces including Jiangsu, Zhejiang, Chongqing and Hubei in the coming months to better prepare Mainland investors for trading in Hong Kong.