BEIJING/SHANGHAI (Reuters) - China’s securities regulator said on Friday that the Shanghai-London Stock Connect was operating normally, following a Reuters report that China had halted cross-border listings through the link.
“Media reports on postponement of Shanghai-London Stock Connect do not match facts,” said Chang Depeng, a spokesman for the China Securities Regulatory Commission, told a regular news briefing in Beijing.
“From the opening of the Shanghai-London Stock Connect to now, it has been operating normally.”
Reuters reported on Thursday, citing five sources, that China had temporarily blocked planned cross-border listings between the Shanghai and London stock exchanges because of political tensions with Britain.
The report followed the delay of a listing of global depository receipts (GDRs) in London by Shanghai-listed SDIC Power Holdings Co Ltd 600886.SS, an alternative energy operator, which cited market conditions as the main reason.
Regarding the delay, Chang said the CSRC “respects each company’s own decision to list based on its own financing needs and market situation.”
He said that trade in, and cross-border transfers of, Huatai GDRs were operating normally.
Chang said some onshore companies had shown interest in cross-border listings through the Stock Connect, and that it would continue to improve links between onshore and offshore capital markets, as well as strengthening cooperation with overseas regulatory institutions, Chang said.
The Stock Connect scheme began operating last year.
Reporting by Xiaochong Zhang in Beijing and Andrew Galbraith in Shanghai; editing by Alex Richardson and Jason Neely
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