The inclusion of exchange-traded funds (ETFs) in Stock Connects linking markets in Shanghai and Shenzhen with Hong Kong will kick off on July 4, according to a joint statement by the regulators of Hong Kong and the mainland on Tuesday, reports the South China Morning Post.
The announcement comes ahead of the July 1 anniversary celebrating 25 years of Hong Kong’s handover to the mainland, and is expected to strengthen the city’s role as a connector between China and the rest of the world.
“ETF Connect is an important milestone because for the first time Stock Connect is expanded beyond stock trading,” said Ashley Alder, chief executive of the Securities and Futures Commission as he announced the launch date of the scheme.