The Governor of the New People’s Bank of China, Yi Gang, has announced that China will create a direct link between its top stock market and London by the end of 2018.
The London Shanghai Stock Connect will be a two-way depositary receipt programme, enabling global investors to benefit from China’s growth through London, and giving UK listed companies direct access Chinese investors.
Commenting on the announcement, London Stock Exchange CEO, Nikhil Rathi, says: “Linking one of the world’s largest capital markets with one of the world’s most international financial centres is good news for the UK, China and the wider global economy.
“It will allow global investors to benefit from China’s growth through London, while UK listed companies will be able to access Chinese investors directly.
“This is another example of London’s enduring ability to be at the forefront of global financial innovation as UK markets continue to play an important role in supporting investment and innovation around the world.”
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