Deals
London Can Dominate Post-Brexit With China’s Cash, HKEX CEO Says
- Li says Hong Kong retains advantage given capital controls
- LSE’s Schwimmer, HKEX boss trade barbs at London conference
The Pudong Lujiazui Financial District in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
The man who runs Hong Kong’s stock exchange fleshed out his vision for combining with its London counterpart, saying the marriage could funnel Chinese cash to the U.K. capital and make it the world’s dominant financial center long after Brexit.
“In 20 years, together, this city is going to be the renminbi, dollar and euro center -- the center of everything,” Charles Li said at a conference in London. “There’s $27 trillion in the Chinese banking system that needs to be deployed.”