During the Europe-Asia Forum held in Brussels, PRC State Council Premier Li Keqiang and British Prime Minister Theresa May discussed bilateral relations and reached a consensus on accelerating the creation of a cross-bidding mechanism between the London and Shanghai stock exchanges. Thanks to this mechanism, investors will be able to acquire foreign shares in the form of depositary receipts, reflecting their rights to shares issued in another country. Chinese and British investors will have access to the stock exchanges in both London and Shanghai due to the fact that banks in these countries will be able to issue depositary receipts for securities traded on these exchanges. According to a statement made by the chairman of the People’s Bank of China and Gan, the mechanism is scheduled to be launched within a year.
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