British Secretary of State for Communities and Local Government, Sajid Javid, on a visit to Hong Kong, on November 10, 2017. Photo: Asia Times / Lin Wanxia
Sajid Javid has abruptly quit as UK chancellor after a power struggle with Prime Minister Boris Johnson and his top adviser Dominic Cummings over how to manage the country’s finances in the aftermath of Brexit. Photo: AFP

Feasibility studies for a mooted Shanghai-London Stock Connect are ongoing, Britain’s Communities Secretary Sajid Javid confirmed at a briefing in Hong Kong on Friday.

The scheme, which aims to link the two exchanges by allowing investors on one bourse to invest in the other, was proposed two years ago, but progress has been slow in the face of uncertainties including Britain’s unexpected decision to leave the European Union.

“I don’t think anything is stopping it,” Javid responded when asked about any obstacles that might stall the process. With any initiative involving two of the biggest stock markets in the world there would always be issues around regulation and currencies, he added.

“I know both sides remain very much committed to and look forward to its happening,” Javid emphasized. More discussions around the scheme and updates can be expected at next month’s UK-China Economic and Financial Dialogue event.