Hong Kong to be Chinese companies’ launch pad in Shanghai pact

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Mainland Chinese companies will use Hong Kong’s capital market as the launch pad for their global growth, according to an action plan signed on Wednesday with Shanghai to connect the premier onshore commercial city with the nation’s offshore financial hub.The two cities will expand the decade-old Connect programme linking the stock markets of Shanghai and Hong Kong with more equities, bonds, exchange-traded funds (ETFs) and gold, as well as working on cross-border settlements and uses of the...