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Bursa signs a memorandum of understanding with the Shenzhen Stock Exchange

 


PETALING JAYA: BURSA MALAYSIA BHD and the Shenzhen Stock Exchange (SZSE) have entered into a Memorandum of Understanding (MoU) to expand investment opportunities and facilitate cross-border collaboration between the two countries.

The two sides welcomed the collaboration through a virtual signing ceremony held in the presence of Bursa Datuk president Shireen Ann Zaharah Muhiudeen and SZSE president Wang Jianjun.

In a statement, Bursa said that under the memorandum of understanding, the two exchanges would collaborate on several areas of mutual interest aimed at strengthening the bond and promoting the flow of investment between the two countries.

Among other things, it will include facilitating the display of mutual benchmarks on the respective markets and joint promotion of the indices and their components to improve the visibility and profile of the Malaysian and Chinese markets.

This is an important step for us. As one of Malaysia’s main trading partners, China remains an important market in the region. Our team here in Bursa, Malaysia has worked very hard to bring this collaboration to fruition, and it is a positive development for us that will further internationalize our market, said Shireen.

Meanwhile, SCZE chairman Wang Jianju said that Shireen had visited Shenzhen twice and that the two exchanges had a detailed discussion on promoting the Chinese and Malaysian financial markets as a platform fundraising, to bridge the flow of capital and nurture innovative business ideas.

Our discussion is aligned with the framework of the government of the People’s Republic of China for development in the Greater Bay Area of ​​Guangdong-Hong Kong-Macao.

Bursa Malaysia and SZSE are very determined to progress in this collaboration. The signing of the memorandum of understanding between SZSE and Bursa Malaysia opens a new chapter in our history and sets a good example for the capital market.

Even in this difficult period of the pandemic, we are able to continue our friendship by further strengthening this collaboration, he added.

Due to the current situation of movement restrictions to curb the spread of the coronavirus, Bursa and SZSE will host a joint virtual seminar entitled China-Malaysia Electronic Industry Cooperation at the end of this month.

The seminar will highlight the importance of the electronics industries in both markets and their roles in a new era of digitalization in the middle of the fourth industrial revolution (IR4.0).



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