Scripts:

This Chinese bank is swamped with investors hoping to open a new kind of brokerage account for China. Until now Chinese citizens have only been allowed to trade Chinese stocks. But the government is easing restrictions on investing in HK, allowing these people to be among the first to buy shares outside the mainland.

The markets in HK, Europe and the US are driven by market forces, but I am ready.

For years, China had strict controls on money flowing in and out of the country, making it tough for foreign investors to buy stocks on China’s booming markets, and nearly impossible for local investors to buy securities overseas. The Chinese government worried moving large amounts of money could destabilize its economy, but now with the economy booming, a huge trade surplus and China sitting on more than one trillion dollars and other currencies, the country is awash in cash.

I think this is also a way for the government, the Chinese government to manage the capital flow in and out of the country, it is a very important move.

It also provides new ways for people to invest their savings. Investors can open brokerage accounts with the Bank of China in the coastal city of Tianjin and invest in theory as much as they want.

What they’ve done is they've offered select mainland investors to take Renminbi and convert it into HK Dollars and buy HK shares which nutlet is, er, positive for HK.

Chinese investors will be able to trade all securities here in HK, but analysts expect them to focus on shares of mainland Chinese companies, which they can buy here at a steep discount.

Some of the Chinese shares in HK are 80% cheaper. So far the new rules only apply to shares in HK, but analysts say the move brings China one step closer to integrating its markets and its people into the global financial system.

Eunice Yoon CNN, HongKong.

Notes:

Be awash with: be fraught with, abundant in