SMM News: the China Securities Regulatory Commission and the British Financial Conduct Supervision Authority issued a joint announcement on the 17th, in principle approved the Shanghai Stock Exchange and the London Stock Exchange to carry out Shanghai Stock Exchange business, Shanghai Stock Exchange officially launched. On the same day, the global depositary receipts issued by Huatai Securities Co., Ltd. were listed on the London Stock Exchange. This is the first A-share company to land on the London Stock Exchange in accordance with the Shanghai Stock Exchange business rules, meaning that Shanghai Lentong West has taken a substantial step towards business. The China Securities Regulatory Commission (CSRC) said that the launch of the Shanghai Stock Connect is an important exploration for the reform and opening up of China's capital market, and it is also an important part of practical cooperation in the financial field between China and the UK. It will have an important and far-reaching impact on broadening two-way cross-border investment and financing channels, promoting the common development of capital markets between China and the UK, and helping to build an international financial center in Shanghai. In addition, Chinese and British regulators have signed a Memorandum of understanding on Regulatory Cooperation between the Shanghai and London Market Connectivity Mechanism, which will cooperate on the enforcement of cross-border securities regulation in Shanghai. The CSRC said that in the next step, the CSRC will unswervingly promote the reform and opening up of the capital market, strengthen regulatory cooperation with British regulators, ensure the smooth operation of the Shanghai Stock Connect, protect the legitimate rights and interests of investors, and promote the healthy development of China's capital market.
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