On December 11, according to the official website of the Shenzhen ** Exchange (i.e., the "Shenzhen Stock Exchange"), on December 10, the Shenzhen Stock Exchange and the Saudi Exchange Group (Saudi Exchange Group) signed a memorandum of understanding on cooperation in Riyadh, the capital of Saudi Arabia, to further deepen the exchange and cooperation between China and Saudi Arabia capital markets. Tang Rui, Deputy General Manager of Shenzhen Stock Exchange, and Alhasan Ashram, Chief Operating Officer of Shaxing Exchange Group, signed on behalf of both parties.
In order to further strengthen the multi-level exchanges and cooperation between the capital markets of the two countries, the Shenzhen Stock Exchange and the Sand Exchange Group have made it clear in this memorandum that they will carry out experience exchange and mutual learning in multiple fields such as ESG (i.e., environmental, social and governance), financial technology, investor services, and enterprise incubation services, so as to support the high-quality development of the markets of both sides. The two sides will also jointly study and promote cooperation in indexes, REITs (i.e., real estate investment trusts**) and other products, study and explore the interconnection of ETFs (i.e., exchange-traded open-ended index**) and cross-listing of listed companies, and jointly build a China-Saudi Arabia cross-border capital service mechanism based on the Shenzhen Stock Exchange's V-NEXT platform, so as to promote the participation of market entities of both sides in cross-border investment and further promote the connectivity and integration of China-Saudi Arabia's capital markets.
The relevant person in charge of the Shenzhen Stock Exchange said that the two sides will take the signing of the memorandum as an opportunity to strengthen complementary advantages, build consensus on development, carry out pragmatic cooperation in ESG, financial technology and other fields of common concern, jointly promote the connection of cross-border products such as indices and ETFs, build a cross-border investment and financing service platform that serves the docking of enterprises and investment institutions of the two countries, and enhance the ability of the capital market to serve the real economies of the two countries.
The relevant person in charge of the Saudi Exchange Group said that the signing of the memorandum of cooperation with the Shenzhen Stock Exchange is a key step in the development process of the Saudi capital market, and the signing of the memorandum will promote deeper cooperation between the Saudi and Chinese capital markets. Promoting the development of capital markets is the common goal of the two countries, and it is believed that issuers and investors in the two countries will benefit from the in-depth cooperation between the capital markets. We look forward to the close cooperation between the Sapphire Exchange Group and the Shenzhen Stock Exchange in the future, giving full play to the advantages and characteristics of both sides, and creating new growth and innovation opportunities for the capital markets of the two countries.
* The Financial Work Conference proposed to steadily expand the institutional opening up of the financial sector, enhance the facilitation of cross-border investment and financing, and attract more foreign financial institutions and long-term capital to do business in China. In the next step, the Shenzhen Stock Exchange will conscientiously study and Xi implement the spirit of the first-class financial work conference, under the unified leadership of the China Securities Regulatory Commission, give full play to the location advantages of the Guangdong-Hong Kong-Macao Greater Bay Area, continue to strengthen cooperation with overseas exchanges and market institutions in multiple fields, and continue to optimize the cross-border product system, broaden cross-border investment and financing channels, promote the internationalization capacity building of market players, steadily promote the high-level institutional opening of the capital market, and create a foundation for overseas medium and long-term capital to enter the market. willing to come, stay".
Edited by Huang Xinyu.
Proofread by Liu Baoqing.