Hong Kong Exchanges and Clearing Limited (HKEx) and Shenzhen Stock Exchange (SZSE) today (Wednesday) signed a Closer Cooperation Agreement which commits them to work together more closely towards the common goals of meeting the domestic and international fund-raising needs of Chinese enterprises and contributing to the greater development of China's economy.

HKEx and SZSE have a long-standing working relationship and have cooperated in a number of areas over the years.  Today's agreement will help support continued cooperation, particularly in information sharing, product development and personnel training.

HKEx hopes to contribute to the common goals by sharing its experience in implementing international standards and best practices, and what it has learned from its exposure to issuers and investors from overseas.

“Not only are Hong Kong and Shenzhen close geographically but we are also close in spirit and aspiration, sharing a strong desire to contribute to the further development of China’s economy,” said HKEx Chairman Ronald Arculli.  “We look forward to opportunities to learn more about the needs of Mainland investors from our counterparts in Shenzhen, and how we can best support the QDII scheme*.

“This is a particularly meaningful time to hold this ceremony as Shenzhen moves closer to introducing a trading platform for start-up companies, which should facilitate fund-raising, and boost entrepreneurial talent in the country amid these challenging times.  The launch will be a landmark event, which we look forward to and support,” Mr Arculli said.