HONG KONG, Nov. 25 (Xinhua) -- The Hong Kong Special Administrative Region government welcomed the launch of the Shenzhen-Hong Kong Stock Connect on Friday evening.
The Shenzhen-Hong Kong Stock Connect will be launched on Dec. 5, according to a joint announcement by the China Securities Regulatory Commission and the Securities and Futures Commission of Hong Kong.
The Shenzhen-Hong Kong Stock Connect is a mutually beneficial collaboration project. Following the successful implementation of the Shanghai-Hong Kong Stock Connect, the Shenzhen-Hong Kong Stock Connect will help further promote the opening up of the Chinese mainland's capital markets as well as the internationalization of Renminbi (RMB), according to the government announcement.
It will also reinforce Hong Kong's position as an international financial center and a premier offshore RMB hub, according to the announcement.