Cross-border trade pilot to have ceiling
Updated: 2014-04-18 21:32
By Cai Xiao (chinadaily.com.cn)
|
|||||||||||
A pilot program allowing cross-border stock investment by investors in the Chinese mainland and Hong Kong will be subject to an initial total ceiling of 550 billion yuan ($90 billion) — 300 billion yuan for Hong Kong investors and 250 billion yuan for Chinese mainland investors, according to the China Securities Regulation Commission on Friday.
The pilot program, which was announced earlier in April, allows investors in Hong Kong to buy and sell up to 13 billion yuan of stocks in certain companies each day at the Shanghai Stock Exchange, while mainland investors may buy and sell up to 10.5 billion yuan of stocks at the Hong Kong exchange.
How long it will take to reach the pilot program's ceiling of 550 billion yuan is not known, but that limit may be adjusted depending on circumstances, the commission said.
"The values of the stock trades will be used to calibrate the limit for the pilot program," commission spokesman Deng Ge said.
Deng said other fees will not be included when calculating the limit.
Fees and taxes will be based on the standards of the stock exchanges in Shanghai and Hong Kong, and no more costs will be produced, Deng said.
Related Stories
Shanghai, HK unveil cross-border trading plan for stocks 2014-04-11 10:46
Use of RMB to be expanded in cross-border trade 2014-02-19 22:28
Yuan cross-border trade settlement hits 8.6t 2013-11-02 09:26
Modern transport links boost regional and cross-border trade 2011-12-09 08:38
Yuan settlement in cross-border trade hits 1.63t 2011-09-01 22:25
China extends cross-border trade settlement in yuan 2011-08-24 09:42
Today's Top News
Ukraine govt mulls constitutional reform
APEC fuels interest in English
Anti-graft push gives more family time
Property price surge could soon over
Three dead in Ukraine, Putin warns of 'abyss'
Ferry's captain under probe
Nobel laureate Marquez dies at 87
Quality of arable land 'worrying'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Beijing integrates with Tianjin, Hebei |
Enemies share eternity together |
Expats flee big, smoggy cities |
Life after an only child dies |
Parents put kindergartens to the test |
White Crane dance takes flight |