China will create conditions for a mechanism to link stock exchanges in Hong Kong and Shanghai, part of efforts to further open capital markets on the Chinese mainland and Hong Kong, Premier Li Keqiang said at Thursday's Boao Forum for Asia 2014.
Deepening the capital market opening-up, along with opening domestic service industries, were given by Li as two critical moves to further open China's economy.
Stocks in Hong Kong and Shanghai recovered as Li's comments spurred speculation that closer links between the mainland and Hong Kong exchanges would pave the way for the cross-selling of funds and easier access to both capital markets for investors and companies.
Hong Kong Exchanges & Clearing Ltd suspended trading this morning for an announcement on "the possible establishment of mutual market connectivity", it said in a statement.
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