Hong Kong Exchanges Clearing wants to launch a primary equity connect scheme that will allow foreign companies to raise funds directly from mainland Chinese investors, its chief executive officer said on Thursday.
The proposal, should it materialise, would be a significant moment for world markets as it would mean Beijing opening up more fully to capital flowing into and out of the country, allowing overseas companies to sell their shares to the nation’s cash-rich households. China had Rmb54 trillion $8.2 trillion in personal deposits at the end of 2015, according to the People’s Bank of China.
Speaking in Hong Kong as he presented the bourse operator's...
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