In November 2014, the Shanghai-Hong Kong Stock Connect (the “Shanghai Train”), a pilot program for establishing mutual stock market access between mainland China and Hong Kong, was officially launched. The new cross-border investment channel established mutual stock market access between Hong Kong and mainland China, allowing Hong Kong and international investors to invest directly in designated securities listed on the Shanghai Stock Exchange, and investors from mainland China to invest directly in designated securities listed on the Hong Kong Exchanges and Clearing Limited.

Following the launch of the Shanghai Train, a second connect, the Shenzhen-Hong Kong Stock Connect (the “Shenzhen Train”) was introduced. Although initially expected to commence operations in summer 2015, stock market turbulence during the period resulted in the Shenzhen Train being delayed, whereas details regarding its official launch have yet to be spelt out. Despite volatile trading conditions, investors eager for a further boost of trading have been calling for a third connect, in the form of a China-Hong Kong commodities connect.