Charles Li, chief executive of Hong Kong Exchanges and Clearing, talked about the task of connecting China to the world’s capital markets as if it was a plumbing or electrical challenge.
In his words, he wanted Hong Kong to be the link between the square and round pipes of Chinese and global markets, or the 110V and 220V wires. “Practically speaking, it’s very difficult to do,” he said.
This was the logic behind Mr Li’s audacious £32bn gambit in September for the London Stock Exchange Group.
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