HK Government urges Beijing to open HK stock market to mainlanders

Hong Kong has asked Beijing to allow mainland citizens to invest legally in the city's stock market as part of a detailed plan to build closer financial ties with China. The proposal, which being considered by the State Council, runs counter to Beijing's strict currency controls, which prevent mainland Chinese from directly buying foreign assets. China has already clamped down this year on so-called "suitcase investors", who travel to Hong Kong with cash to take advantage of cheaper prices for listed mainland companies there.

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