SHANGHAI’S mayor said “initial preparations” were underway to enable global investors to trade Shanghai-listed shares via the Hong Kong exchange, asking investors to be patient after the trading program missed its launch date.

    Mayor Yang Xiong said Sunday that preparations were critical “because once it comes online, no error will be tolerated.”

    He did not provide a new target data for the stock connect link between the two exchanges, which has been seen as a milestone in the liberalization of China’s capital markets.

    “It’s a decision to be made by the regulators. Just be a little bit more patient. It will eventually be launched,” the mayor told reporters on the sidelines of a conference.

    The trading link had initially been expected to go live Oct. 27, but the exchanges said they had not received regulatory approval.

    China’s securities regulator Thursday said the stock connect program was in its “final stage,” according to an online report by Shanghai Securities News.

    On Wednesday, Hong Kong securities watchdog chief Ashley Alder said his agency had completed all regulatory steps needed for the launch.

    (SD-Agencies)