Drive to build links between China and Britain and strengthen global ties
Florist Zhao Yuanyuan arranges flowers in her shop in Shanghai, China. Picture: AFP/NOEL CELIS
The original plan was for several companies to take part in the scheme in the first couple of years, but so far only one company, Huatai Securities, made the trip from Shanghai to London last June. In a statement after publication of the report, the Shanghai Stock Exchange said it had been continuously promoting the Shanghai-London Stock Connect scheme that benefits both companies and investors.
Under the London-Shanghai Connect Scheme, first announced in 2018, Chinese companies are allowed to add a secondary listing of global depositary receipts in Britain that would be linked to shares in Shanghai. “China is among the first countries to come out of lockdown, and is keen to get back on track with plans to improve trade relations with the UK,” he said.
The listings will not necessarily be an easy sell in the current environment, said a third source, a London-based banker involved in some transactions.
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