On the afternoon of May 14, on the occasion of the international cooperation summit forum on the Belt and Road (B&R) Initiative held in Beijing, the Shanghai Stock Exchange (SSE) and Bursa Malaysia held a ceremony of exchanging memorandum in China World Hotel Beijing. Wu Qing, SSE Chairman, and Dato’ Tajuddin Atan, CEO of Bursa Malaysia, attended the ceremony and exchanged memoranda at the witness of Malaysian Prime Minister Najib Razak.
Bursa Malaysia, a member of the World Federation of Exchanges (WFE) and the Asian and Oceanian Stock Exchanges Federation (AOSEF), is one of the major exchanges in the Association of Southeast Asian Nations (ASEAN). Bursa Malaysia provides full value-chain services including listing, trading, clearing, settlement, depository and information, with such main products as stocks, futures, options, ETFs and REITs.
The SSE and Bursa Malaysia have always kept a good cooperation relationship. The two sides’ senior staff have visited each other for many times to update developments of their markets and share their experience in business development.
The signing of the memorandum was a new attempt to strengthen bilateral cooperation under the backdrop of the B&R Initiative. With the increasing understanding between the two sides and the rapid progress made since the B&R Initiative was put forward, both sides recognized that the B&R Initiative not only provides a historical development opportunity for economic and trading cooperation among the countries and regions along the B&R, but also brings about tremendous chances for the two countries’ capital markets and the two exchanges. The two sides hoped that the signing of the memorandum would contribute to further cementing communication, and actively exploring new cooperation spaces. The two exchanges would, in the principle of honest cooperation, mutual benefit and win-win, cooperate in such areas as product, market promotion and market data, give full play to the roles of the two countries’ capital markets and serve the B&R Initiative.