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LME WEEK ASIA: HKEx hopes mutual market access in stocks can be replicated in metals

April 22, 2014 - 15:46 GMT Location: Hong Kong

KEYWORDS: HKEX , LME , connect , stocks , mainlan China , Hong Kong , international , Charles Li

Hong Kong Exchanges & Clearing (HKEx) hopes that the Shanghai-Hong Kong connection will help it expand in the commodities and metals space sooner rather than later, ceo Charles Li said on Tuesday April 22.

"Commodities is still a concept and is being worked on," Li told a press conference in Hong Kong. "It took 20 years to build the Shanghai-Hong Kong connection. [Let’s] hope it won’t take another 20 years," he said. "China is the [world’s] largest importer of commodities, but not necessarily able to hedge risks as international markets are closed [to it]," he said, adding that the international market uses London Metal Exchange contracts to hedge risks in metals trading. "The futures markets [in China and outside]...

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