Subsequently, the HKEx responded that the HKExs offer for acquisition was unsolicited and spontaneous and would consider the HKExs proposal.
The HKEx also said in its announcement that it has played an important role in supporting London as the worlds leading metal trading centre after the LME acquisition.
If it succeeds, the HKEx expects the management team of the London Stock Exchange Group to continue to operate the London Stock Exchange Group and participate in the management of the Hong Kong Stock Exchange Group; the Hong Kong Stock Exchange will discuss with the relevant authorities, and it expects that the main business of the London Stock Exchange Group will continue to be subject to the current situation. Regulation by major regulatory bodies.
In addition, the HKEx will design a solution suitable for leading financial infrastructure groups around the world, taking into account the best practices of corporate governance in the UK. In addition, the HKEx will fully support the long-term construction of London and Hong Kong as a global financial centre.
Just now, the Hong Kong Stock Exchange issued a statement of merger with the London Stock Exchange Group, Lee Xiaoga, chief executive of the Hong Kong Stock Exchange Group, said in a blog posted on the same day. Although the statement is concise and limited in content, it has far-reaching significance and can be said to be worth a thousand dollars. Because it not only embodies the great determination of the Hong Kong Stock Exchange to embark on the international acquisition journey again in its more than 20 yearsdevelopment history, but also is a symbolic measure for the Hong Kong International Financial Centre to deepen its role as a bridge connecting the East and the West. It may also contain traces of great changes in the international financial structure in the future.
Li Xiaoga said that the London Stock Exchange is one of the largest stock exchange groups in Europe. Its business is highly complementary to that of the Hong Kong Exchange. The proposed transaction is very consistent with the three-year strategic plan of the Hong Kong Exchange. If successful, it will be the first marriage between East and West capital markets, which will create a leading international exchange group and stand on the top of the global capital market.
In addition, Li Xiaojia said that for Hong Kong, this marriage will enable Hong Kong to reposition itself in the global financial system. Hong Kong is no longer just a gateway for foreign investment to enter and exit the Chinese market, but also a pivotal international financial market platform under the new international financial structure. It will also help Hong Kong connect China with the world. It provides new power and space.
For the mainland of China, under the background of RMB internationalization and the gradual liberalization of capital projects, it is also a short-term bottleneck to promote RMB internationalization only by trade valuation. Therefore, it is very important to obtain direct support from the international financial market at present. This transaction can provide a new path and channel for the interconnection of stocks, bonds, indices and other financial products. It also provides a convenient and efficient financial platform for the integration of RMB-denominated financial assets into the international financial market and helps China to make full use of the global financial infrastructure.
For the UK, the merged exchange could consolidate Londons position as a global financial centre. As the history of Londons growth as an international financial centre has repeatedly proved, London will continue to gain tremendous growth opportunities from the globalization of international capital markets, and benefit from the process of RMB becoming the main international currency and RMB-denominated financial assets gradually entering the international market. Just as London benefited from Eurodollar trading in the 1960s to become todays global dollar trading centre, the merged exchange will boost global market confidence in London as the worlds major financial centre.
Li Xiaoga said in his blog, We will try our best to achieve this rare cross-border marriage in a thousand years.