SECURITIES regulators of the mainland and Hong Kong are working closely with the Shenzhen Stock Exchange and Hong Kong Exchanges and Clearing Ltd. for the launch of the long-anticipated Shenzhen-Hong Kong stock connect program sometime this year, the China Securities Regulatory Commission (CSRC) said Friday.

    Deng Ge, a spokesman of the CSRC, said the commission has set up a special working group to coordinate the launch.

    “When relevant regulations and technical preparations are ready, the Shenzhen-Hong Kong stock connect will be launched sometime this year,” said Deng, without giving an exact date.

    The online financial magazine Caixin reported Thursday that the CSRC had already set up such a group, headed by CSRC Vice-Chairman Fang Xinghai. The group is responsible for coordinating efforts among various departments within the commission and relevant government bodies and between the mainland and Hong Kong regulators, the magazine said.

    There’s less than six months left of 2016 but there’s still time yet to set up the Shenzhen-Hong Kong stock connect, Hong Kong Exchanges and Clearing chief executive Charles Li said Thursday.

    Calling the connect’s launch “imminent,” Li said that he was upbeat about the link despite revenue from the existing Shanghai-Hong Kong stock connect program falling 38 percent year on year to HK$71 million (US$9.2 million) in the six months to June 30.

    In March, Premier Li Keqiang said that the Central Government would strive to launch the Shenzhen-Hong Kong stock connect this year.

    The Shenzhen-Hong Kong link is a cross-market investment program modeled after the Shanghai-Hong Kong connect, which was launched in November 2014 and hailed as a major step in the mainland’s efforts to open up its capital market, and allows mainland investors to buy Hong Kong stocks, and vice versa. (SD-Agencies)