November 2, 2018 / 11:58 AM / a year ago

Shanghai Stock Exchange publishes Shanghai-London stock connect rules

BEIJING, Nov 2 (Reuters) - China’s Shanghai Stock Exchange published rules on Friday for its cross-border stock connect scheme with London which will allow investors to buy foreign stocks indirectly via depository receipts (DRs).

Under the rules, Chinese firms can raise funds by issuing Global Depository Receipts in London. However, London-listed firms can only issue China Depository Receipts backed by existing shares.

The rules published on Friday were largely in line with those issued by China’s securities regulator in October. (Reporting by Beijing Monitoring Desk; Editing by Simon Cameron-Moore)

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