Charles Li, CEO of Hong Kong Exchanges and Clearing Limited (HKEX), speaks at the Sandler O'Neill + Partners Global Exchange and Brokerage Conference in New York June 6, 2018. — Reuters pic

LONDON, Oct 31 — Hong Kong bourse Chief Executive Charles Li said there are fundamental flaws in the “one country, two systems” formula that governs the former British territory as it grapples with its biggest political crisis in decades.