China is accelerating measures to increase foreign access to its financial markets in a clear sign the country is committed to liberalising its economy, just as trade tension with the US mounts.
The People’s Bank of China said on Wednesday that a Shanghai-London stock exchange trading link would open by the end of the year, in a landmark move that would allow investors to more freely trade shares in each other’s respective locations.
Philip Hammond, UK chancellor, said in response that the Shanghai-London connect will “provide UK businesses, savers and investors with unique access to exciting new investment opportunities in China”.
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