London stock exchange 'to open Hong Kong office'

The London Stock Exchange will set up an Asia-Pacific office in Hong Kong in a bid to attract listings from mainland Chinese companies, it was reported today.

The London market has straightforward listing procedures that are especially suitable for small- and medium-sized Chinese enterprises, the exchange’s Asia-Pacific President, Zhu Xiaojian, told the pro-Beijing Wen Wei Po newspaper.

Speaking at an investment forum in the southern Chinese province of Fijian, Zhu said Hong Kong was a good place for the London exchange to tap into the booming mainland market. Chinese enterprises raised a total of £11.5bn (€16.9bn) through overseas listing last year.

The Hong Kong office will open by early November, Zhu told the paper.