February 17, 2017 / 6:51 AM / 2 years ago

Shanghai-London connect talks moving to 'second phase' - London official

The Lord Mayor of the City of London, Andrew Parmley, holds up a guide for young Londoners during his speech at the London Government Dinner at the Mansion House in London, Britain, January 12, 2017. REUTERS/Peter Nicholls

HONG KONG - (Reuters) - Talks on a Shanghai-London stock connect scheme are moving to a “second phase”, the City of London’s Lord Mayor Andrew Parmley said on Friday.

Feasibility studies for a potential Shanghai-London stock connect have been under discussion for some time, but progress has been slow in the face of challenges including China’s stock market crash in 2015 and more recently, Britain’s unexpected decision to leave the European Union.

A link between the two exchanges would allow investors on one bourse to invest in the other.

Reporting By Michelle Price; Editing by Anne Marie Roantree & Shri Navaratnam

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