NewHong Kong to continue its push as trading hub for commodities and China stocks, says HKEx’s Li
HKEx chief executive Charles Li envisions expanded commodity, China stocks trading
Hong Kong Exchanges and Clearing will explore the idea of establishing a commodity connect between Hong Kong and London as part of its plan to develop the city into a hub for commodity trading, while also expanding its role as a platform to access mainland China shares.
HKEx chief executive Charles Li Xiaojia said the plan is to position Hong Kong as a central player in the commodities business.
“The commodity connect with London will allow mainland investors to use Hong Kong as a hub to trade commodity contracts in London. For the longer term, we could also establish a similar connection with commodity exchanges in mainland China,” Li said.
Li made the comments Tuesday while attending an event for Operation Santa Claus. The annual fund raising drive is co-hosted by the South China Morning Post and RTHK.
Li did not reveal a timetable for setting up the commodity connect scheme, but said the concept could be similar to the Hong Kong and Shanghai Stock Connect.
A plan to link up the Hong Kong and Shenzhen stock markets has been put on hold until next year because of the sharp sell off that disrupted mainland shares during the summer.