London. Britain and China have agreed to press on with closer links between London and Shanghai's stock exchanges, British finance minister Philip Hammond said on Thursday (10/11) after meeting Chinese Vice Premier Ma Kai.
"Both exchanges will now work together to research and prepare implementation arrangements," Britain's finance ministry said.
Hammond, speaking at a news conference alongside Ma, said the financial services sector would act as a template for cooperation in other sectors.
China planned to grant British banks licences to underwrite so-called panda bonds issued in China, and to gradually relax foreign ownership restrictions for fund managers and life insurance firms, Hammond added.