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China, Hong Kong expand daily quotas for connect programs

Chinese and Hong Kong regulators on Wednesday jointly announced a quadrupling of the daily quotas for the market "connect" programs.

Those programs allow mainland Chinese investors in Shanghai and Shenzhen and international investors in Hong Kong to trade securities in each other's markets through the trade and clearing facilities of their home exchange.

Starting May 1, the "northbound" daily quota will expand to 52 billion renminbi ($8.3 billion) from 13 billion renminbi for both the Shanghai connect program and the Shenzhen connect program.

The "southbound" daily quota will expand to 42 billion renminbi from 10.5 billion renminbi.