The Securities Commission Malaysia (SC) announced that it will facilitate closer collaboration between the Malaysian and Chinese capital markets which will mutually benefit both economies, following a visit to the Shenzhen Stock Exchange (SZSE) on 4 July 2019.
DURING the discussions, SZSE Chairman Wu Lijun emphasised the strong success of SZSE in financing innovative Chinese companies and SMEs, including those in the technology and advanced manufacturing sectors, which are closely aligned to Malaysia’s economic priorities.
At the same time, there are already a number of SZSE-listed companies operating in Malaysia under the Belt and Road Initiative (BRI), creating natural synergies and opportunities for collaboration between both countries’ capital markets.
SC Chairman Datuk Syed Zaid Albar said, “The SC, along with Bursa Malaysia have had numerous engagements with the SZSE in recent months to discuss initiatives for greater cross-border connectivity, exchange of technical expertise and human capital development.
We look forward to deepening the ties between Malaysia and China through this collaboration.”
Following this working visit, SZSE, the SC and Bursa Malaysia will hold further in-depth discussions to define and sharpen the value proposition of the collaboration, and work towards implementing these initiatives.
The SC was a member of Malaysia’s Ministry of Finance delegation to China, led by Finance Minister Lim Guan Eng. The delegation’s visit to SZSE was received by the stock exchange’s senior officials, led by its Chairman Wu Lijun. SZSE was established on 1 December 1990 as a self-regulated legal entity under the supervision of the China Securities Regulatory Commission (CSRC).
It is one of two main stock exchanges in mainland China, with a market capitalisation of USD3 trillion as at May 2019.