China is expanding the Stock Connect program to include yuan-denominated stocks listed in Hong Kong and real estate investment trusts (REITs). The announcement by the CSRC, led by Chairman Wu Qing since February 2024, marks a new step in Beijing’s strategy to internationalize the yuan. Northbound trading flows hit a record 302.7 billion yuan per day in February 2026. The expansion aims to facilitate international investors’ access to Chinese assets and provide mainland investors with broader access to Hong Kong REITs. No implementation date has been confirmed yet.
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