The London Stock Exchange (LSE), albeit late in securing a slice of the Chinese listing pie, expects to sign a memorandum of understanding (Mou) with the China Securities Regulatory Commission (CSRC) by September.
An exchange spokesman said: 'The Chinese side is working on the wording which will come back to the exchange in April. The MOU will come to a conclusion probably in late summer to September.' The progress was revealed after Li Jiange , vice-chairman of the CSRC, visited the London exchange recently on a trip sponsored by BZW, the investment bank division of Barclays Bank.
BZW deputy chief executive Donald Brydon said talks on the memorandum were held between the CSRC, the treasury, the Securities Investment Board and the exchange.
An MOU will pave the way for Chinese enterprises to seek primary listings in London, which has lagged behind its counterparts in Hong Kong, the United States and Singapore in entering into such mutual agreements.
While Chinese firms have been floated on the exchanges in Hong Kong and New York, Beijing has earmarked Tianjin Traditional Chinese Medicine for a listing in Singapore.
The CSRC also is planning similar agreements with Japan and Australia as part of a drive to gain overseas listing experience for the mainland's securities market development.
