Categories
Banking & Finance

HK through-train could see delays

A statement made by Premier Wen Jiabao is being seen as an indication that the so-called "through-train" scheme to allow mainland investors to invest on the Hong Kong stock market will face delays, the Wall Street Journal reported. Wen, speaking during a visit to Uzbekistan, said the Chinese government should more closely study the possible effects of the move on China and Hong Kong's stock markets, adding that private Chinese investors may not understand the risks of investing their savings in the Hong Kong market. China's State Administration of Foreign Exchange announced on August 20 that the restrictions placed on mainlanders seeking to invest in Hong Kong would soon be lifted, causing a price surge in Hong Kong-listed shares. The current total value of Chinese personal savings is estimated at around US$2.2 trillion.

Leave a Reply

Discover more from China Economic Review

Subscribe now to keep reading and get access to the full archive.

Continue reading