The London Metal Exchange plans to launch Hong Kong-based commodities contracts as it seeks to attract direct investment from mainland China, the world’s largest metals consumer.
The 137-year-old exchange, which was bought by Hong Kong Exchanges & Clearing in 2012, wants to extend a pilot programme starting this month linking the Hong Kong and Shanghai stock markets to commodities, Charles Li, HKEx chief executive, said.
“If that works . . . Then there’s no reason not to believe in the commodities space you are able to replicate that model,” Mr Li said at the start of LME Week, the biggest annual gathering of the metals industry.
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