HKEx CEO says tax, rights problems on Shanghai stock connection to be resolved

HONG KONG Wed Aug 6, 2014 5:22am EDT

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HONG KONG Aug 6 (Reuters) - Lingering tax and rights problems related to the opening of reciprocal stock exchange access between Hong Kong and Shanghai will be resolved before the October launch of the programme, Hong Kong Exchanges and Clearing Ltd Chief Executive Charles Li said at a press conference on Wednesday.

Regulators, brokers and engineers in Hong Kong have been working flat out to try and meet that deadline, amid concerns that differing legal regimes and tax rules between the two hubs could delay the launch.

HKEx earlier posted a small increase in second-quarter net profit, as higher listing fees offset weaker share trading volumes. (Reporting By Lawrence White; Editing by Michael Urquhart)