“Huluntong” may not be opened this year. According to Reuters quoted sources, China’s interest in promoting the Shanghai Stock Exchange and the London Stock Exchange’s interconnection project, Huluntong, has weakened. It is expected that the launch time will be slightly delayed compared with expectations and it is unlikely to start this year.
According to the report, China’s interest has been greatly reduced due to the difficulty in implementing the measures to open up the mainland capital market, the delay in the Brexit and the continuing trade disputes between China and the United States.
The Shanghai Stock Exchange responded that work was being “normally carried out” but said there was no specific start-up timetable.
The London Stock Exchange said that the project is in the final stage and is awaiting the final set of foreign exchange rules, which is expected to be launched this year.