(China Alert) London: the next Hong Kong
- EFD, Stock Connect
·Feasibility study to be conducted for London-Shanghai Stock Connect
·Aberdeen AM and GF International are applying for business licenses
·London’s willingness to work with China makes further progress likely
Update: The UK and China announced the press release of agreements from the Economic and Financial Dialogue (EFD) on Monday evening. The new deal shows clear evidence of major investment integration between the two countries. Of the five main financial foci, the two points of most importance are a feasibility study for a London-Shanghai Stock Connect and, perhaps more interesting, pilot cases for respective onshore entities created by Aberdeen Asset Management and GF International. Clearly, China is still willing to turn rhetoric into action, at speed, and Z-Ben Advisors believes the race to manage Chinese money both on- and offshore starts today.
The long list of agreements illustrates the growing financial ties between the two countries. London has already established itself as a major hub for RMB-denominated assets, and this will be advanced by…..
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