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Mayor of London: Dual listing in UK, China raises profile both ways
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08:20, June 09, 2009

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The dual listing of British and Chinese firms on stock exchanges in both the United Kingdom and the Chinese mainland will help raise profile both ways, visiting Lord Mayor of City of London Ian Luder said Monday.

Speaking at a news briefing in Hong Kong, the last leg of his official visit to China, Luder said dual listing would especially helpful for retail businesses.

"You start get commentaries in the press, in the financial pages read by informed private investors who ...(some) become informed and loyal clients," he said.

Luder declined to comment on the reported timetable of the listing of London-headquartered banking giant HSBC Holdings on Shanghai stock exchange.

Nevertheless, he said it would not be a surprise if HSBC became one of the first UK-based firms to be listed in Shanghai given its historical links and its current business on the Chinese mainland.

Market access and having global players are some of the characteristics of a financial center, which Shanghai has been aspiring to become, he said.

China and the United Kingdom reached agreements at recent London forum that the two governments would take appropriate steps to remove barriers to the dual listing, he added.

Luder started his 10-day official visit to China that has taken him to Beijing, Shanghai, Chongqing and Hong Kong. He was heading a financial services delegation, which held talks with Chinese officials and local industry players.


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