The Securities and Futures Commission of Hong Kong Suggests Reducing the Investment Limit for Chinese Stocks in Cross-Border Trading Through the Stock Connect

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The Securities and Futures Commission of Hong Kong Suggests Reducing the Investment Limit for Chinese Stocks in Cross-Border Trading Through the Stock Connect - SCMP

Quick Summary:

The minimum asset requirement for investing in Hong Kong equities via the Stock Connect scheme should be cut to 100,000 yuan (US$13,900) from 500,000 yuan, SFC chairman Tim Lui says.

To attract more mainland investors, Lui suggested that China slash the 20 per cent dividend tax to align with the mainland, where investors are exempt from the levy on the condition that they hold the stocks for at least a year.

Lui was one of 36 delegates from Hong Kong who attended the NPC in Beijing, where they proposed bills on key policies and deliberated on a government work report outlining major economic targets.