A move to allow Hong Kong investors the ability to buy shares on the Shanghai stock exchange and vice versa is being hailed as a big step forward in the opening up of China.
The mutual market access plan was reported by mainland newspaper 21st Century Business Herald, while another local newspaper said the first quota of the mutual investment could be $50 billion.
A source close to one of the stock exchanges confirmed the plan to FinanceAsia and said it could come to fruition this year. The details of the scheme, however, have not been settled, said the source.
The Chinese...
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