HK stock exchange CEO says ‘one country, two systems’ is flawed

The head of Hong Kong’s stock exchange has said the city’s “one country, two systems” relationship with China is flawed, weeks after concerns about his company's independence from Beijing helped scupper its £32bn bid for the London Stock Exchange.

Charles Li said in a speech in London that the “one country, two systems” model had “fundamental flaws” in how it was implemented from the outset, referring to the high degree of autonomy granted Hong Kong following the handover from British to Chinese rule in 1997.