Shanghai and London are working on mutual stock-market access, an arrangement that will be similar to the stock-connect programs between Hong Kong and the Chinese mainland’s two A-share markets, Shanghai Stock Exchange Chairman Wu Qing said, Caixin reports. In a recent interview with a small group of journalists, Wu also said the country’s biggest bourse is seeking more power to clean up misconduct among listed companies, and he explained how the exchange is trying to balance innovation with market discipline. Wu, 52, took the helm of the Shanghai Stock Exchange in May 2016 after years of overseeing the country’s stock market at the China Securities Regulatory Commission (CSRC). In 2009, as leader of a CSRC department that supervises fund managers, he oversaw a heavy crackdown on so-called rat trading, in which brokers profit from trading on undisclosed information such as pending orders from other brokers or their own clients. More recently, Wu became chairman of the World Federation of Exchanges.
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