The London Metal Exchange (LME), the world’s largest metal trading bourse, aims to open a new market in China, chief executive Gary Jones said in London Monday. The LME was bought by Hong Kong Exchanges & Clearing Ltd. (HKEx) (00388.HK) in December 2012 but Jones said the metal exchange has no plan to move to Hong Kong. “London will remain the headquarters of the LME while keeping the representative office in Singapore,” he said. In response to market worries about China’s increasing influence in the exchange, Jones also said there is “no hidden agenda” in the HKEx’s acquisition.
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