China has temporarily blocked planned cross-border listings between the Shanghai...
HONG KONG/LONDON - China has temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain, five sources told Reuters.
The sources, who include public officials and people working on potential Shanghai-London deals, all said that politics was behind the suspension. British companies and banks involved in the scheme are watching closely how recently-elected Prime Minister Boris Johnson approaches relations with Beijing and what stance he takes on Hong Kong, which has been roiled by protests.
China’s Ministry of Foreign Affairs said in a faxed statement that it is not aware of the specifics, but added that it “hopes the UK can provide a fair and unbiased business environment for Chinese companies that invest in the UK and create the appropriate conditions for both countries to carry out practical cooperation smoothly in various fields”.
Five sources told Reuters SDIC Power’s deal was halted because of Beijing’s suspension of Stock Connect.
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