Stock Connect Trading Remains Strong Despite Regulatory Crackdown

Hong Kong Exchanges and Clearing chief executive Bonnie Chan said Stock Connect trading activity remains robust despite recent measures by China’s securities regulator targeting illegal cross-border securities operations.

Speaking at a Bloomberg conference in Hong Kong, Chan said the regulatory actions have not affected legitimate market access through the programme.

Average daily Southbound Stock Connect trading rose 14% this year to approximately RMB138bn (USD20.4bn) compared with around RMB121bn in 2025, while Northbound turnover increased to RMB380bn from RMB212bn.

The strong Stock Connect trading figures underline continued investor demand for cross-border investment opportunities between mainland China and Hong Kong.

Chan also highlighted ongoing strength in Hong Kong’s capital markets.

The city has recorded 66 new listings this year, raising approximately HKD21bn, while the IPO pipeline remains active across sectors including technology, artificial intelligence, biotechnology, computing power, energy and mining.

The comments reinforce confidence in the resilience of Hong Kong’s market-connectivity framework and broader capital-market ecosystem.