Stock Connect, a long-delayed program to link the London and Shanghai stock exchanges will officially launch on Monday, allowing global investors to access shares in Chinese companies and Chinese investors a chance to buy LSE-listed stock, reported the Financial Times.
The scheme, originally scheduled to begin last year, will be launched on the sidelines of a visit by Chinese vice-premier Hu Chunhua to London, during meetings with UK chancellor Philip Hammond. The Stock Connect scheme, first announced in 2015, was due to launch in December, but was delayed for unknown reasons.
The Treasury said that UK listed companies would be able to sell shares in China from Monday, and that this was the first time that any foreign company would be able to list in mainland China.
The scheme will differ from a similarly-named initiative launched between Hong Kong and Shanghai in 2014, as the London scheme is limited to trading in depository receipts rather than direct trade in company shares.
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