China's A-share market. Photo: AFP
The capital market plays an important role in resources allocation, asset pricing and mitigating risks. Photo: AFP

Shanghai will strive to launch the Shanghai-London stock connect in 2018, said Li Jun, deputy director of the Shanghai Municipal Financial Service Office during a press conference on Wednesday, The Paper reported.

At present, relevant departments are promoting work according to the timetable stated during the year, Li added.

It is understood that the connect project is expected to adopt the method of depository receipts to realize the interconnection of the two markets.

On 14 June, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, attended the Lujiazui Forum in Shanghai and clearly stated that the institutional arrangements for the connect project are in place.

It is expected to be officially launched during this year.