On November 6, Ronald Arculli, chairman of Hong Kong Exchanges
and Clearing Limited (HKEx) said HKEx agrees that the "direct
train" scheme, which would allow Chinese mainland investors to
directly invest in the Hong Kong stock market, should be studied
further and that mainland investors need to be educated regarding
the operation and risks of the HK stock market before the scheme is
launched. He also revealed that HKEx would soon sign an agreement
with the State Administration of Foreign Exchange (SAFE) to
collaboratively illuminate mainland investors on how the HK stock
market works.
Mr. Arculli told reporters after a ceremony marking the listing
of Alibaba.com. "It's not so important as to when the direct train
arrives, it's more important that it runs smoothly," he said.
Additionally, Mr. Arculli said he did not know about any reports
stating that the China Securities Regulatory Commission (CSRC) has
told several fund companies to cut their exposure to HK shares in
their Qualified Domestic Institutional Investors (QDII) products.
He said he was not clear if the government had set new limitations
on QDII. He believes that fund managers will adjust their own
equity allocations as they see fit.?
For more details, please read the full story in Chinese. (
http://www.dfdaily.com/node2/node27/node119/userobject1ai37212.shtml)
(China.org.cn November 7, 2007)
