Dubai Financial Market (DFM) announced the signing of a Memorandum of Understanding (MoU) with the Shenzhen Stock Exchange (SSE), as part of the joint commitment between the two parties to enhance strategic cooperation and seize cross-border cooperation and investment opportunities.
The MoU was signed by Chen Feng, Director of International Cooperation Department of Shenzhen Stock Exchange, and Afra Al Suwaidi, CEO of Dubai Depository Company, a subsidiary of Dubai Financial Market, with the aim of strengthening partnerships between the two markets and stimulating their growth in both countries. The signing ceremony was attended by Sha Yan, Chairperson of Shenzhen Stock Exchange, Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai, and Ou Boqian, Consul General of the People’s Republic of China in Dubai.
Research Initiatives
Under the new MoU, cooperation between DFM and SSE will focus on jointly organizing international investor conferences, seminars, research initiatives and training programmes aimed at developing capital markets and financing companies listed on both exchanges. The two parties will also explore cooperation in dual listings, exchange-traded funds and cross-index and fixed income products (subject to regulatory approvals), which will enhance secondary market activities on both sides.
The agreement will also facilitate the exchange of insights and expertise between the two parties in the areas of market development, products, regulatory practices, environmental, social and institutional governance practices, and capacity building in the field of information technology, thus laying the foundations for strengthening cooperation relations in the future.
Promotional activities
The representative of the Shenzhen Stock Exchange pointed out that the exchange has made steady progress in recent years in expanding the horizons of bilateral openness to advanced levels. The signing of the MoU represents a prominent opportunity to facilitate the joint organization of promotional campaigns and activities, develop investment and financing products and channels between the two countries, deepen practical cooperation between them and increase the capabilities of the financial markets to serve the economies of both countries.
Hamed Ali, Chief Executive of DFM and Nasdaq Dubai, said: “The MoU with Shenzhen Stock Exchange is a significant step towards strengthening our international relations, developing cross-border investment opportunities and expanding our market reach. By leveraging our shared strengths, we will not only strengthen the close ties between our financial systems, but also pave the way for new and promising horizons and opportunities for growth and innovation that will positively impact investors and various stakeholders on both sides.”