What you need to know
The new People’s Bank of China Governor Yi Gang has announced the London Shanghai Stock Connect initiative will aim to launch in 2018.
A two-way depositary receipt programme, Connect would allow global investors to benefit from China‘s growth through London and UK listed companies to directly access Chinese investors.
CEO of London Stock Exchange plc, Nikhil Rathi, said:
“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.
“London Stock Exchange Group and Shanghai Stock Exchange are grateful to both UK and Chinese authorities for their cooperation in launching Connect. We look forward to continuing to work with all partners and market participants.
- A two-way depositary receipt programme that broadens access for investors to benefit from China‘s growth through London and would enable UK listed companies to access directly Chinese investors.
- First time that international investors will be able to access China A-shares from outside Greater China and through international trading and settlement practices.
- First time that Chinese investors will be able to truly access international stocks from China
- Connecting one of the world’s largest capital markets with one of the world’s most international; reinforces London as gateway to global economy
- Benefits both financial centres, issuers, investors and the wider real economy
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