• Tu Guangshao: Studying to Launch Shanghai-London Stock Connect

    Date:Dec 30, 2015
    Source:Futures Daily

    At yesterday’ s Press Conference by the Shanghai Municipal Government, Deputy Mayor Tu Guangshao stated that recently, the Shanghai government and the China Securities Regulatory Commission were working together in the research to launch Shanghai-London stock connect, on the basis of Shanghai-HK stock connect. Meanwhile the Shanghai Government would support the Shanghai Futures Exchange to do preparatory work for the listing of crude oil futures, and also support the Shanghai Stock Exchange to fasten the process of introducing the board of strategic emerging industries.
    In 2015, the Shanghai Government successively issued the detailed rules for implementation of Shanghai FTA account-categorized calculation and overseas financing, started the foreign-currency function of free trade account and launched the FTA cross-border interbank deposit. By the end of November, 40 financial institutions had accessed to the free trade account monitoring and management system, with a total of about 40,000 free trade accounts opened. In 2015, the total revenue and expenditure of the free trade accounts reached nearly RMB1.83 trillion.

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