Mutual recognition structure starts to take shape

Progress towards the launch of Hong Kong-China mutual recognition has picked up with a number of key decisions made on its systems and structure in recent weeks. A meeting of officials and industry participants in Shenzhen last month has led to agreement in a number of areas, including on the clearing systems to be used. However, enthusiasm for the scheme, at least on the mainland China side of the border, appears to be cool, with the cost of participating putting off many fund …