London Stock Exchange Group (LSEG) has signed an agreement with Chinese broker Haitong Securities to develop RMB-based products and open up capital markets to Chinese investors.
A memorandum of understanding between the pair will see them work together on several initiatives.
These include collaboration to create RMB exchange-traded funds tracking Chinese securities, developing RMB fixed income, index and derivatives products, providing Chinese investors with access to LSEG markets and promote London listing to Chinese companies.
Alexander Justham, CEO of the London Stock Exchange, said: “We are fully committed to supporting Haitong Securities’ ambitions and working to develop the off-shore RMB market in London as well as facilitating closer ties between London and Chinese capital markets.
“Our agreement today will accelerate progress towards significant and exciting milestones in this important new chapter in global finance.”