UK economy

Philip Hammond launches London-Shanghai stock link

Name: Philip Hammond launches London-Shanghai stock link
Uploaded: 2019-06-17T15:06:40.551Z
Duration: 46 s
Channel: Financial Times
Description: UK chancellor says Chinese shares will be able to be bought in the UK

UK chancellor launched Stock Connect scheme that ties both stock exchanges, allowing global investors to access shares in Chinese companies while giving Chinese investors a chance to buy LSE-listed stock. The scheme had been delayed by Brexit uncertainty

June 17, 2019

Footage: Reuters

Transcript

You can enable subtitles (captions) in the video player

[MUSIC PLAYING]

PHILIP HAMMOND: I am delighted to announce a new chapter in the relationship through the launch of the London-Shanghai Stock Connect. This unique and historic initiative means that the first shares in a Chinese company are now available to buy on the London Stock Exchange. And it means that UK companies can now list on the Shanghai Exchange, the first time ever that foreign companies have been able to list in mainland China.

[MUSIC PLAYING]