Hong Kong Exchange exec pushes for link with mainland commodity exchanges

Hong Kong Exchanges and Clearing (0388.HKG) Chief Executive Charles Li Xiaojia said he hopes to establish a link for the territory’s bourse with commodity exchanges in mainland China as well as domestic warehouses to house physical deliveries of metals within 3-5 years, South China Morning Post reported. The London Metals Exchange (LME) is forbidden from establishing warehouses in China in order to protect the mainland’s domestic commodity exchange. Li also said “HKEx and LME are not going to compete with mainland commodities exchanges and traders but we could work together,” he said. Li also said the current quota on trading through the Hong Kong-Shanghai Stock Connect would be lifted “very, very soon.”