(Oct 15): China approved brokerages including Central China Securities Co. to offer trading services that pave the way for the start of a program allowing investors in Shanghai and Hong Kong access to each other’s stock markets.

Central China won approval to offer services enabling the trade of yuan-denominated A shares under the Shanghai-Hong Kong Stock Connect program from the Shanghai exchange, according to a statement yesterday. Brokerages from China Galaxy Securities Co. to Haitong Securities Co. also received permission, the Securities Daily reported today, citing firms it didn’t name.

The link, part of China’s effort to open up its financial system and promote wider use of the yuan, will allow a net 23.5 billion yuan ($3.8 billion) of daily cross-border trading. The Shanghai Composite Index gained 11 percent this year on speculation the exchange link may fuel fund inflows and reform measures will stem an economic slowdown.

The China Securities Regulatory Commission may say Oct. 17 that the link will start operating on Oct. 27, the Great Wisdom newswire reported yesterday, citing a person it didn’t identify.

Central China Securities shares in Hong Kong jumped 5.9 percent, the biggest intraday increase in a week, to HK$3.07 as of 10:46 a.m. local time. Haitong gained 1.2 percent, while China Galaxy rose 1.4 percent.