BEIJING -- A pilot program to connect the Shanghai and Hong Kong stock markets has been approved by China's top securities regulator.

Mutual stock market access between the mainland and Hong Kong will allow mainland and Hong Kong investors to trade easily on the other's market, according to a joint statement by the China Securities Regulatory Commission (CSRC) and the Hong Kong Securities and futures Commission on Thursday.

It will take approximately six months to prepare for the formal launch of the program.

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