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The Shanghai Stock Exchange (SSE) and Moscow Exchange (MOEX) signed a strategic cooperation agreement in Moscow on May 22, 2017. It is the first time that the SSE signed such an agreement with a foreign exchange. SSE Chairman Wu Qing and MOEX CEO Alexander Afanasiev held a talk before the signing and attended the signing ceremony together. During his stay in Moscow, Wu also met with Russian Deputy Finance Ministers Mr. Alexei Moiseev and Mr. Vladimir Kolychev and Vice President of Russian Central Bank Mr. Dmitry Skobelkin respectively. The Russian Ministry of Finance and the Russian Central Bank both voiced full support to the cooperation between the two exchanges. At the symposium between the SSE and several major market participants and institutional investors of Russia, the representatives present spoke highly of the strategic cooperation between the two exchanges and showed great confidence to their cooperation.
MOEX, a member of the World Federation of Exchanges, is the largest exchange group in Russia. Providing clients with all-round services on listing, trading and clearing, it boasts a wide range of trading products such as stock, bond, derivatives, foreign exchange, currency and bulk commodity, with the trading volumes of bonds and derivatives ranking the 3rd among all exchanges worldwide. The SSE has maintained good cooperation relationship with MOEX. Since 2015, the two sides have made several high-level exchange visits, signed the memorandum of understanding for cooperation, jointly held 2 sessions of Russian Capital Market Forum, and actively carried out cooperation in market data. In particular, United Company RUSAL PLC successfully issued Panda Bonds on the SSE in March 2017, become the first enterprise from a country along the Silk Road Economic Belt and the 21st-Century Maritime Silk Road (Belt and Road) issuing Panda Bonds in China.
Russia is an important country along the Belt and Road, and Sino-Russian cooperation is of great significance to the Belt and Road Initiative (B&R Initiative). Under the guidance of the China Securities Regulatory Commission, the SSE has paid great attention to the cooperation with relevant institutions in the Russian capital market. As the SSE and MOEX both carry weight in the capital market of their own country and have their own space in the global exchange industry and advantages in business development, there presents a huge cooperation potential for the two sides. The strategic cooperation agreement signed this time has shown the common will of the two sides in seizing the historical opportunity to expand cooperation between the two exchanges and that between the capital markets of the two countries under the background of the B&R Initiative. The two sides will, in the principle of sincere cooperation and mutual benefit, strengthen cooperation in sharing information and data, establishing exchange and cooperation platforms, co-developing products and providing financing services for programs related to the B&R Initiative, thus giving full play to the roles of their capital markets and serving the B&R Initiative.
General Secretary Xi Jinping recently stressed in his speech at the B&R Forum for International Cooperation that financing is a key support to the B&R Initiative and put forward new requirements to the capital market in serving the B&R Initiative. Strengthening communication and cooperation between exchanges from countries along the Belt and Road is an important way of the SSE to implement the requirements of the Central Authority and serving the B&R Initiative. The SSE is studying and moving forward with a more comprehensive and in-depth overall planning. It will further strengthen information exchange, service and cooperation with countries along the Belt and Road, support and serve listed companies and its member units in taking part in the B&R Initiative, and keep intensifying its efforts in serving the B&R Initiative.
