Stock Market Liberalization and Price Discovery: The Shenzhen-Hong Kong Stock Connect
After the success of Shanghai-Hong Kong Stock Connect, China chose to deepen the opening of the stock market further and launched the Shenzhen-Hong Kong Stock Connect on December 5, 2016. This paper examines the market liberalization between China and Hong Kong stock markets and the price discovery progress for cross-listed stocks in the two markets before and after the Shenzhen-Hong Kong Stock Co