Shanghai-Hong Kong stocks draft rules issued

The Shanghai Stock Exchange on Tuesday issued draft rules on the Shanghai-Hong Kong stock connection to solicit public opinions.

There will be no changes on the practices of the two bourses, laws on stock trades or investor habits, according to the draft regulations, which specifies shares eligible for trade, volume controls and trading time.Trades will be settled in yuan.

Public opinions are welcome from April 29 to May 16.

On April 10, the China Securities Regulatory Commission and the Hong Kong Securities and Futures Commission announced approval for the pilot program, Shanghai-Hong Kong Stock Connect, for the establishment of mutual stock market access between Shanghai and Hong Kong.

The program promotes internationalization of the yuan and development of Hong Kong as an offshore yuan business center.