The Shanghai Stock Exchange (SSE) and New Zealand’s Exchange (NZX) have announced that they have signed a Memorandum of Understanding (MOU).
The memorandum was drafted in recognition of the friendship and close economic relationship between New Zealand and the People’s Republic of China, and it is NZX’s desire to align with the ‘One Belt One Road’ initiative. It marks the commitment of both exchanges to promote confidence, co-operation and integration in the Asia-Pacific markets.
Under the memorandum terms SSE and NZX will look to agree a framework to assist each exchange to work more closely to develop their respective markets, representatives from NZX and SEE will meet in early 2019 to advance these discussions.
NZX Chair James Miller commented:
We are committed to connecting our listed companies to international markets so they can grow, and today’s announcement is a further endorsement of the strategy we have in place for building scale in the New Zealand market and providing a better service offering for our customers.
Our relationship with the Shanghai Stock Exchange provides NZX with an important link to Mainland China, which is New Zealand’s largest trading partner, and compliments agreements we already have in place with the Nasdaq, and Singapore and Hong Kong exchanges.
Shanghai & New Zealand exchanges sign MoU was first posted on October 4, 2018 at 11:29 am.