Today, the China Securities Regulatory Commission (“CSRC”) and the Securities and Futures Commission of Hong Kong (“SFC”) issued a "Joint Announcement," agreeing to expand the daily quota for interconnection. Among them, the daily quota for eligible shares of Shenzhen Connect expanded from 13 billion yuan to 52 billion yuan, and the daily quota for eligible shares of Hong Kong Connect increased from 10.5 billion yuan to 42 billion yuan, both of which come into effect as of May 1, 2018. This is an important measure of implementing Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and expanding the opening of the financial sector to the outside world. It fully demonstrates China’s capital markets’ confidence and determination in opening to the outside world, and is conducive to better meeting the demand of overseas long-term institutional investors in participation in the A-share market.
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