SMM News: on May 7, the Hong Kong Stock Exchange held the 2019LME Asia Annual meeting in Central Exchange Square. Shi Meilun, chairman of the Hong Kong Stock Exchange, said at the meeting that China has become the second largest economy in the world, and millions of investors want to diversify their investment portfolio. Apart from stock trading, Hong Kong is also changing, hoping to increase investment opportunities in new asset classes in the wave of economic development, so as to support the next stage of China's economic development. Therefore, we need to have our own pricing power in commodity trading. We have not only LME, but also Qianhai Exchange. We look forward to reaching cooperation with the Guangdong Provincial Government in the Greater Bay area and setting up a metal warehouse in the Great Bay area. In order to expand the global warehousing network and reduce the investment risk of mainland traders, the Qianhai Exchange has made a lot of efforts and made great progress.
Li Xiaojia added to the construction of metal warehouses at the subsequent meeting. He believed that LME had planned to build a network of metal warehouses in China, but there was a lot of resistance, and now the time is ripe, and we are cooperating with the Guangdong provincial government. The process of setting up a LME warehouse at the test site in the Great Bay area is not easy, but we are officially on the road and are making good progress.