PSX signs MoUs with Chinese Stock Exchanges to enhance market access
- By Web Desk -
- Dec 20, 2024
KARACHI: The Pakistan Stock Exchange (PSX) and three leading Chinese Exchanges have signed Memorandums of Understanding (MoUs) to further deepen the collaboration, according to a press release.
A high-level delegation from Pakistan’s capital markets, led by Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP), alongside Dr. Shamshad Akhtar, Chairperson PSX, Farrukh H. Sabzwari, CEO of PSX, Muneer Kamal and other senior SECP executives visited China.
During the one-week visit, the delegation engaged with key Chinese financial institutions, including the China Securities Regulatory Commission (CSRC), the China Securities Depository and Clearing Corporation (CSDC), the Securities Association of China (SAC), the Asset Management Association of China (AMAC), the China Financial Futures Exchange (CFFEX), the Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE), the Shanghai Futures Exchange (SHFE), and CITIC Securities Co. Ltd.
“The primary goal of the visit was to deepen collaboration between the Pakistani and Chinese capital markets, explore opportunities for cross-border investment products, and enhance market access and investor participation for both Pakistani and Chinese entities”, the statement said.
Pakistan Stock Exchange CEO Farrukh H. Sabzwari signed MoUs with the Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and China Financial Futures Exchange (CFFEX), marking a significant milestone in strengthening ties and enhancing cooperation between PSX and these leading Chinese exchanges.
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The statement said that “the MoUs aim to foster bilateral collaboration for capacity building, promote mutual growth opportunities, and formalize future interactions for the benefit of Pakistan’s capital market”.
“The MoUs also facilitate collaboration on launching new financial products such as Exchange Traded Funds (ETFs), promoting the listings of Chinese-Pakistani joint venture companies, and organizing joint conferences and events to engage market participants” it further added.