China and Indonesia establish closer co-operation between markets
The Shenzhen Stock Exchange (SZSE) has established further co-operation between capital markets in China and Indonesia and is seeking to do so in other markets, both within the region and globally.
Speaking at the first China-Indonesia Capital Market Cooperation Seminar, SZSE chairman Wu Lijun said the exchange maintains a highly productive and growing relationship with the Indonesia Stock Exchange (IDX), optimizing high-level exchange and advanced personnel exchanges, business research and technical co-operation between the two sides.
‘Both parties reached consensus on jointly building a China-Indonesia small to medium-sized enterprises capital market service plan to leverage the SZSE V-Next Platform [an initiative to facilitate innovative capital formation] and the IDX Incubator mechanism [to support digital-based start-ups],’ said the SZSE in a statement.
Wu also said the SZSE seeks to make use of the advantages of markets in the region by actively participating in the ASEAN+3 Bond Market – comprising Brunei, Cambodia, China, Indonesia, Japan, Korea, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam – as well as step up co-operation with capital markets of 152 countries involved in the Belt and Road Initiative.
Wu said SZSE was carefully studying the spirit of the keynote speech delivered by Chinese leader Xi Jinping at the Belt and Road Forum for International Cooperation, which serves the national strategies by further pushing forward the opening up of the capital market as required.
‘China will expand its opening-up measures, which is a self-made choice based on its development and reform,’ Xi said in his keynote speech at the forum. ‘This can help China to improve the quality of its economic development.’
And with a nod to wider political and economic collaboration, Xi added: ‘We also hope other nations in the world can create a positive investment environment, equally treat Chinese enterprises, students and scholars, and provide a fair and friendly environment for their international exchange and co-operation activities.’