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The Chinese National Association of Financial Market Institutional Investors (NAFMII) and the International Capital Market Association (ICMA) have today signed a Memorandum of Understanding which will lead to closer co-operation and sharing of expertise between the two organisations in harmonising market practice for their respective members who are participants in the capital market.
Under the terms of the MoU the two associations will undertake regular sharing of information on critical topics including, regulation, market infrastructure, and professional training.
At the signing of the MoU which took place at NAFMII’s offices in Beijing, Mr. Shi Wenchao, Secretary General, NAFMII, said: “NAFMII looks forward to establishing a long-term mutually beneficial relationship with ICMA. NAFMII will always adhere to its core principles and objectives – market orientation and internationalization – in its development. We hope to deepen the mutual understanding between China financial market and the global financial market by strengthening communications and cooperation with our international partners like ICMA. We will also work closely in search for a development model suitable for our respective market. With the constant development of China financial markets, we believe the cooperation between both associations will be more thorough and more extensive in the coming future.”
Signing the MoU on behalf of ICMA, Martin Scheck, its Chief Executive, commented: “ICMA is delighted to be able to cooperate with NAFMII. We look forward to sharing with our colleagues in China the expertise we have built up in over 40 years of providing a sound framework of market practice for the European capital markets, as they develop the considerable potential of their own domestic markets and increasingly participate in the global financial market. Both associations share many common values and goals in setting standards for best practice and supporting orderly markets.”
