| Although Shanghai-Hong Kong Stock Connect Program launched less than half a year in 2014 November, the innovative business in the stock market has made an unexpected success. Shanghai-Hong Kong Stock Connect Program not only improve the two-way investment trading mechanism between Shanghai and Hong Kong stock market, but also led to a sustained rise index of stock market in china. Reviewing the course of development of Shanghai-Hong Kong Stock Connect Program, it is not difficult to find that regulators for capital market reform in China is paying for all kinds of hardships. Several years ago, the Commission is ready to launch the "access to shares in Hong Kong"and the "international version" and other innovative services in the securities market to open foreign investment in the stock market trading mechanism, because of China’s financial system is still not perfect, ultimately these services are premature. For a long time before Shanghai-Hong Kong Stock Connect Program launched, regulators have been putting a lot of human and financial resources to the business transaction systems, clearing system, business rules and regulations,to research and demonstration until it formally launched. The opening of the port of Shanghai-Hong Kong Stock Connect Program makes the time come, in which a large number of individual participants from mainland and Hong Kong can buy and sell each other’s market share, and it also makes regulators to a new height on cross-border capital flow management. Bohai Securities Company as a medium-sized brokerage is one of the first pilot brokerage of Shanghai-Hong Kong Stock Connect Program, before Shanghai-Hong Kong Stock Connect Program launched, the company headquarters had attached great importance to the innovation business promotion, in the operation of the business the company headquarters give the biggest support from both human and financial resources, at the same time the company also strive to seize the opportunities to develop the securities business, risk management and service model, so that the company can succeed among the front-line brokerage.This paper makes a in-depth interpretation combining with the current magazines and newspapers and the latest industry policy about Shanghai-Hong Kong Stock Connect Program, and combining with the study of it during the internship in Bohai securities companies makes the study more carefully, firstly making an overview of general business of Shanghai-Hong Kong Stock Connect Program and analyzing the current situation of the development can make us understand the background better, then by focusing on the impact of the two cities and securities companies to interpret the business innovation, finally by analyzing the business of Shanghai-Hong Kong Stock Connect Program on Bohai securities companies so as to find out the advantages and disadvantages of the business development and give some suggestions. |
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