Foreign Demand for Mainland Stocks Drives Record Stock Connect Volumes
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Average daily northbound trading volume under the Stock Connect program linking the Chinese mainland and Hong Kong has surged to nearly 390 billion yuan ($57 billion) this year, driven by rising foreign investor interest, according to Bonnie Chan, chief executive of Hong Kong Exchanges and Clearing Ltd.
Speaking Friday at the 2026 Caixin Summer Summit in Hong Kong, Chan said average daily northbound trading volume reached a record 212.4 billion yuan in 2025, up 42% from a year earlier. In 2026, daily volume has climbed further, averaging between 380 billion yuan and 390 billion yuan, she said.
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- Average daily northbound Stock Connect volume reached 212.4 billion yuan in 2025, up 42% YoY; in 2026 it has averaged 380-390 billion yuan.
- HKEX is pursuing listing reforms to relax thresholds, weighted voting rights, and extend confidential filings, building on changes since 2018.
- HKEX is expanding cross-market indexes, ETFs, and fixed-income infrastructure, including a stake in MacroClear and plans for Chinese government bond futures.
- Hong Kong Exchanges and Clearing Ltd.
- Hong Kong Exchanges and Clearing Ltd. (HKEX), led by CEO Bonnie Chan, reported record average daily northbound trading volume under Stock Connect, reaching 390 billion yuan in 2026. HKEX is advancing listing reforms, expanding product lines like cross-market indexes, and strengthening fixed-income and currency businesses to deepen cross-border ties and attract international capital.
- 2025：
- Average daily northbound trading volume under Stock Connect reached a record 212.4 billion yuan, up 42% from a year earlier.
- 2025：
- HKEX debuted the HKEX Technology 100 Index.
- November 2025：
- HKEX acquired a 20% stake in MacroClear from the Hong Kong Monetary Authority for 455 million yuan.
- March 2026：
- HKEX issued proposals for listing framework reforms.
- May 2026：
- HKEX completed a market consultation on the listing reform proposals.
- By the second half of 2026：
- HKEX hopes to publish conclusions and implement listing framework changes. (The time range "second half of 2026" includes dates after 2026-06-12 22:51:48 CST, but as a range, it is not a specific date and cannot be precisely evaluated; however, items with specific dates after that cutoff are removed.)
- Soon in 2026：
- Inclusion of yuan counters in Southbound Stock Connect is expected to launch. (No specific date provided; kept as is.)
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