March 22 (Reuters) - The London Metal Exchange (LME) said on Tuesday it will team up with warehouse operators to list warehouses for its new electronic tracking system along China's 'belt and road' routes.
The exchange, which is owned by Hong Kong Exchanges and Clearing Ltd (HKEx), said it will work with Henry Bath & Son Ltd, CMST Development Co Ltd and Mercuria Energy Trading to list the warehouses where the metal is stored.
LME由港交所（HKEx）控股并表示，将与Henry Bath & Son有限企业、中储发展股份有限企业以及摩科瑞能源贸易企业共同合作，挂牌存储金属的相关仓库。
A warehousing fraud in China in 2014 spurred the development of LMEshield, a scheme to provide electronic receipts as proof of ownership for stored metal, which has the capacity for tens of millions of tonnes of material.
In the first phase of the project, Henry Bath will list one of its warehouses as an LMEshield facility along the 21st Century Maritime Silk Road, which runs from China through Southeast Asia.
Metal receipting and support will be provided by Mercuria. China Merchant Securities supports commodities financing in LMEshield locations along the Belt and Road routes.
"This LMEshield initiative reinforces the LME's position as a conduit for trade flow between China and the rest of the world," LME CEO Garry Jones said in a statement. (Reporting by Clara Denina)