HONG KONG: British and Chinese securities watchdogs are discussing an agreement that will pave the way for landmark financial services projects between the countries, sources said, easing fears that Britain could be a less attractive partner for such deals after last month’s vote to leave the European Union.

Britain’s Financial Conduct Authority and the China Securities Regulatory Commission are cooperating on a regulatory framework for a scheme for distributing fund products in each other’s jurisdiction and a proposed London-Shanghai link for trading shares, sources said.

Britain has been pushing in recent years to deepen its financial services ties with China, which has agreed to these and other cross-border financial services schemes as part of a bilateral programme.

Published in Dawn, July 31st, 2016