(Yicai Global) Dec. 5 -- The launch of the Shanghai-London Stock Connect will be postponed to an unspecified date after Christmas, insiders told Yicai Global.
The opening ceremony had been scheduled for Dec. 14 in London, according to sources who spoke to Yicai Global yesterday. At the event, authorities were also scheduled to publish the names of the first 10 Chinese listed companies to take part and the first 10 British ones.
The delay is due to technical difficulties caused by a Dec. 11 vote in Parliament on the deal British Prime Minister Theresa May negotiated with the European Union to remove the UK from the political and economic bloc, the sources said.
Authorities in China and the UK have committed to kick off the cross-listing program before the end of this year. The link between the bourses, which aims to offer more cross-border investment opportunities, has been in the works for many months. The countries floated the idea in 2015.
The scheme follows in the footsteps of the Shenzhen-Hong Kong Stock Connect, which opened two years ago today, and the Shanghai-Hong Kong Stock Connect, which launched in November 2014.
Editor: Emmi Laine