A similar stock connect from Shanghai to Hong Kong has been running since the finish of 2014 and has “withstood its market test, with steady and orderly overall performance”, premier Li Keqiang said, according to the state council.

The launch of the program will assist investors “better share the fruits of economic development in both the mainland and Hong Kong, deepen the financial cooperation between them, and consolidate and enhance Hong Kong’s position as an international financial centre,” Keqiang said.

The program will also seize advantage of the seal geographic position of Shenzhen and Hong Kong, and enhance cooperation between the mainland and Hong Kong, Keqiang said.

The overall trading quota of 550 billion yuan (US$83 billion) will be removed for both the Shanghai and Shenzhen stock trading links with Hong Kong, while the daily trading quota will remain, Charles Li, chief executive of regulator Hong Kong Exchanges and Clearing, said in a presentation.

A planned stock connect between Shanghai and the London Stock Exchange may be delayed because of Brexit, it was reported endure month. The China Securities Regulatory Commission needs more season to study the recent legal framework in London if the UK leaves the EU, the report said.