Institutional investors’ dream of a single China equities market, deep in liquidity, reliable in regulation and transparent in compliance, might yet be some years away. But there is now a discernible trend within China’s confusingly fragmented equities markets towards these ultimate goals.
China’s equity markets remain confusing. In addition to the main Shanghai and Shenzhen markets, there are several benchmark indices based in Hong Kong, of which the H share index is arguably still the true China bellweather, not to mention indices comprising internationally listed...
