CEO of Hong Kong stock market vows to continue talks with Saudi Aramco

Li told Reuters that “the talk will never stop” in trying to woo Aramco, with China now one of the largest buyers of oil from the Middle Eastern Kingdom.

Earlier this year, Li said the stock exchange would use its position as a gateway to mainland Chinese investors in order to clinch the listing.

Aramco's attractions for all of the world's main trading exchanges were enormous, with Saudi authorities thought to be planning to list close to 5% of the firm's shares in a dual-listing in Riyadh and on a second as yet undecided venue, potentially raising up to $100bn.

Aramco was thought to be favouring New York over London for its foreign listing, according to reports, but financial and legal advisors had recommended London as a less riskier option.

For his part, Li pointed out the benefits of having access to an additional liquidity pool supported by domestic Chinese liquidity.

"Having a rival liquidity pool that is supported by domestic Chinese liquidity that trades and invests at a very different valuation [...] allows them to walk on two legs globally at different clocks of trading," Li said.