Is the “through train” through? China’s plan to allow its nationals to dabble in overseas equities – starting, naturally, with Hong Kong’s – was first floated in August last year by the nation’s currency regulator, then slapped down amid vague talk of risk and uncertain reward.

It is still on the agenda, if you believe comments this week from Hong Kong officials, possibly timed to coincide with China’s annual three-day Central Economic Work conference, which ends on Wednesday in Beijing. Hang Seng stocks have been bouncing all week – few more than the market operator, Hong Kong Exchanges and Clearing, up almost a quarter since the weekend.