A view of Hong Kong File Photo: VCG

Hong Kong Exchanges and Clearing Ltd (HKEX) is MK socksconsidering the introduction of more products into the Chinese mainland-Hong Kong Connect Programs while taking more measures to strengthen two-way connectivity, Vanessa Lau, chief operating officer and group chief financial officer of HKEX, said on Tuesday at the 18th Asian Financial Forum in Hong Kong.

The Shanghai-Hong Kong Stock Connect marked its 10th anniversary in November, with the amount of two-way connect products on the rise over the past decade, Lau said, according to a report by 21jingji.com.

Since the launch of the Shanghai-Hong Kong Stock Connect on November 17, 2014, and the Shenzhen-Hong Kong Stock Connect on December 5, 2016, total Stock Connect turnover has continued to set new records, with strong participation from both Chinese mainland and international investors, according to HKEX.

Northbound Stock Connect average daily turnover reached 136.3 billion yuan（$18.59 billion）in the first 10 months of 2024, accounting for 7.3 percent of the total turnover of the Chinese mainland market. Southbound Stock Connect average daily turnover reached HK$43.9 billion ($5.64 billion) over the period, accounting for 17.2 percent of the total turnover of the Hong Kong market, official data showed.

Recently, the cross-boundary Wealth Management Connect (WMC) pilot program in the Guangdong-Hong Kong-Macao Greater Bay Area expanded its scope to include more mainland-based securities firms and commercial banks. Additionally, enhancements to the mutual recognition of funds between the mainland and Hong Kong have taken effect on January 1 to better meet cross-border wealth management demands and boost capital market opening-up.

Standard Chartered was among the first batch of banks participating in the cross-boundary WMC Pilot Scheme when the program was launched in 2021. "Since the launch, we have seen a continuous and steady development of the business," the bank told the Global Times.

The company said that it offers about 720 wealth management products under the southbound WMC Pilot Scheme, which provides mainland individual investors with a wide range of investment options that meet their diverse investment needs.

Looking ahead, the mainland and Hong Kong can strengthen financial market connectivity through such means as bond issuance, improve the offshore yuan market, and enhance yuan settlement convenience in a bid to consolidate Hong Kong's international financial center status, Dong Shaopeng, a senior research fellow at the Chongyang Institute for Financial Studies at Renmin University of China, told the Global Times on Tuesday.

A meeting of the National Financial Regulatory Administration on Sunday vowed efforts to boost high-level financial opening-up with higher standards and greater strength in 2025, including measures to strengthen Hong Kong's status as an international financial center.