| With the deepening of China's reform and opening up,the opening up of capital market has become an important part of the domestic financial industry's opening up overall,meanwhile it also enhances the international competitiveness of China's financial industry and the ability to serve the real economy.As a part of the financial opening,the " Shenzhen-Hong Kong communicate program",an exchange mechanism between the Shenzhen Stock Exchange and the Stock Exchange of Hong Kong that is launched in December 5,2016.Its opening is conducive to investors to better share the Mainland and Hong Kong's economic development,Deepening the financial cooperation between the Mainland and Hong Kong,also marks that China's capital market is developing towards marketization,legislation and internationalization.However,due to the differences of Securities Law and the transaction settlement system between the Mainland and Hong Kong,the inter-regional stock trading and settlement model will inevitably encounter some legal problems in the actual operation,such as applicable law of securities property rights and infringe,securities litigation procedure,legal liability.Therefore,to keep this stock exchange mechanism better running,it is an alternative way to analyze and integrate the two-existing legal system,achieve a well-organized relationship in the legislation,justice and inter-regional cooperation,eventually build a perfect legal framework. |
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