Hong Kong Exchanges and Clearing Limited (HKEx) and Shanghai Stock Exchange (SSE) have met to discuss the Closer Cooperation Agreement they signed in January of last year.
The agreement commits the two organisations to work together more closely towards the common goals of mutual prosperity and contributing to the greater development of China’s economy.
As a result of recent discussions, HKEx’s Listing Division and SSE’s Company Management Department will establish a mechanism for regular exchanges, in order to more effectively regulate companies and securities listed in both Shanghai and Hong Kong and better protect shareholder interests. Views will be exchanged every two months, with the focus on operational issues, including information disclosure by listed issuers. The two organisations will take turns organising the meetings.
HKEx and SSE also agreed to strengthen exchanges and cooperation on information technology that supports business development.
“Through cooperation and exchanges with our friends at SSE, we can learn more about the behaviour and needs of Mainland investors and how we can further support the QDII (Qualified Domestic Institutional Investor) scheme,” says Ronald Arculli, Chairman, HKEx. “We can also learn from each other about the market dynamics created by the growth and development of SSE and HKEx, and the latest market trends in the Mainland and Hong Kong.
“The Shanghai and Hong Kong exchanges have their own technological advantages. There is ample room for the technology personnel of both organisations to share expertise, and explore possible ways to develop our respective technology support infrastructure to accommodate further and broader cooperation between the two markets,” says Charles Li, Chief Executive, HKEx.
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