Stock Connect: «Wish We Had Patented the Word»
One of the LSE milestones which Schwimmer shared was the creation of a London-Shanghai Stock Connect, highlighting its first issuer – Huatai Securities – and a second one in the pipeline which is believed to be China Pacific Insurance.
«We value that partnership with the Shanghai Stock Exchange, we think it's mutually beneficial,» he said. «In June we launched Shanghai-London Stock Connect, the first of its kind.»
Li struck back in cheeky fashion calling out the self-proclaimed status about London as a pioneering gateway to the mainland Chinese stock market compared to the older H-share market.
«I wish we had patented the word ‘connect’ when we did it,» Li said. «We did that 25 years ago [and] today we have 500 massive Chinese companies listed in Hong Kong.»
