BEIJING, Oct. 16 (Xinhua) -- China has made preparations for the launch of the long-awaited Shanghai-London Stock Connect program as the China Securities Regulatory Commission (CSRC) published a document for the program last Friday.
Shanghai Stock Exchange, together with China Securities Depository and Clearing Co., Ltd (CSDC) conducted a test on Monday to make sure that the technical systems are ready.
The prospective broker which passes the test can submit an application of intention to the stock exchange on October 17 and then submit an official application for registration on October 27.
A senior brokerage business insider said that around 20,000 to 30,000 clients meet the requirements to have more than 3 million yuan in their securities accounts on a daily basis. He added that investors are more cautious about Shanghai-London Stock Connect compared with previous Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect due to language barrier and unfamiliar exchange rules.
In addition, some brokerages are training staffs to prepare for the program.(Edited by Wu Shuang, wushuang2018@xinhua.org)
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