LINE

Text:AAAPrint
Business

Better-linked capital markets pledged

1
2016-06-13 09:38:53Shanghai Daily Huang Mingrui ECNS App Download

China and Britain want to boost the connectivity between their capital markets by aiming to launch a stock connect and a program of mutual fund recognition, their financial officials told the 2016 Lujiazui Forum yesterday.

Britain also hopes that a program to allow British and Chinese fund houses to sell products in each other’s market will be realized, Lord Ashton of Hyde, special representative of the Chancellor of the Exchequer, or finance minister, said in a speech at the forum at which Britain is the guest country of honor.

Similar to the current Mainland-Hong Kong Mutual Recognition of Funds program, the one between China and Britain is likely to allow asset-management companies in China to sell funds in Britain while offering their British counterparts access to the Chinese market. The program will further boost cross-border investment between the two countries.

Last year, China and Britain agreed to a feasibility study on a stock trading link between the London and Shanghai exchanges, but did not elaborate.

“China’ stock market is dominated by retail investors, while in London more than 90 percent of investments come from institutional investors,” Xavier Rolet, CEO of London Stock Exchange Group, said at the forum.

“The Shanghai-London connect will work to increase the rate of institutionalization of the Chinese market.”

Both sides also pledged to boost cooperation in financial market regulations.

“As China continues to open up, we should learn from British financial regulators about how to improve supervision and manage risks in a liberal market,” said Qi Bin, director-general of the Department of International Affairs of the China Securities Regulatory Commission.

 

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.