Bursa Malaysia Berhad (Bursa Malaysia) and Shenzhen
Stock Exchange (SZSE) have entered into a Memorandum of Understanding (MoU) to broaden opportunities in investment and facilitate further cross-border collaboration between the two countries.
Both parties welcomed the collaboration through a virtual
signing ceremony held in the presence of Shireen Ann Zaharah Muhiudeen, chairman of Bursa Malaysia and Wang Jianjun, chairman of SZSE.
The MoU will see collaboration between both exhanges on several areas of mutual interest that are aimed to strengthen the tie and promote the flow of investment between the two countries.
This will include the facilitation to display mutual benchmark indices in the respective markets and joint promotion of the indices and their constituents to enhance the visibility and profile of both the Malaysian and Chinese markets.
“This is a significant milestone for us. As one of Malaysia’s largest trading partners, China remains an important market in the region. Our team here in Bursa Malaysia have worked very hard to make this collaboration happen, and this is a positive development for us that will further develop the internationalisation of our marketplace,” said Shireen.
“It serves to formalise the intent of both exchanges to enhance the accessibility of investors for both markets. We look forward to working together with SZSE to bring even further value for our domestic and global investors.”
Wang Jianjun, said, “Last year, Shireen visited Shenzhen twice. Both Exchanges have had an in-depth discussion on promoting the Chinese and Malaysian capital markets as a platform for fundraising, bridging the capital flow and nurturing innovative business ideas.”
“Our discussion is aligned with the Government of the People’s Republic of China’s Framework for Development in the Guangdong-Hong Kong-Macau Greater Bay Area. Bursa Malaysia and SZSE have been very committed to making progress in this collaboration.”
“Today, the signing of the MoU by SZSE and Bursa Malaysia creates a new chapter in our history, and sets a good example for the capital market. Even during this challenging time of the pandemic outbreak, we are able to continue our friendship by strengthening this collaboration further,” he added.
The collaboration will be initiated with Bursa Malaysia and SZSE hosting a joint virtual seminar titled “China-Malaysia Electronic Industry Cooperation” at the end of April.
The seminar will highlight the significance of the electronics industries in both markets and their roles in a new era of digitalisation amidst the fourth industrial revolution (IR4.0).
“I believe market troughs will lead to market peaks; we must keep looking forward and prepare for the recovery of our economy.Therefore, one of the first steps we will look into
is the virtual panel discussion on Supply Chain for the Belt and Road Initiative with Malaysian companies,” Shireen concluded.
The MoU also includes a plan for joint market promotion, information sharing, developments in people and technology as well as other forms of co-operation in business development for the benefit of both exchanges.