SHANGHAI, China – Firms from the United Kingdom will be the first companies to list mainland China in the new stock link. Chancellor Philip Hammond will launch the stock connect, London-Shanghai, on Monday.
Here, the firms will sell their shares in a dual listing. The shares can be bought on the Shanghai and London Stock Exchanges. According to the United Kingdom government, this will aid in opening more British firms to new and willing investors.
Mr. Hammond mentioned in a statement that this groundbreaking project will deepen both the country's global connectivity, especially to the UK when looking for opportunities in Asia. The London-Shanghai Stock connect took 4 years to take form, but now, both countries can already use it for listing.