Shenzhen Stock Exchange and Nasdaq Stock Market Inc yesterday entered into a memorandum of understanding on bilateral cooperation in Shanghai.
Zhang Yujun, general manager of the Shenzhen bourse said this would help widen and strengthen communication between the two markets and enable both sides to cooperate in a wide range of issues concerning information exchange, market supervision, market development, marketing, stock trading rule-setting, duo listing of small and medium-sized enterprises and the building of a Chinese GEM.
Both sides had extensive discussions over how to help SMEs grow and finance, and what the two exchanges could do to provide them with a reliable and transparent stock trading environment. They also talked about the possibility of duo listing in both capital markets for SMEs.
Zhang further expressed the hope to optimize market structure and boost service quality for SMEs through such cooperation, for Nasdaq has amassed plenty of experiences in infrastructure construction, market supervision and serving science and technology firms.
Robert Greifeld, President and CEO of Nasdaq Stock Market Inc told reporters they would continue such dialogues with its Chinese counterparts, better serve Chinese enterprises and investors through mutual learning and help the local market mature and grow.
By the end of August, 49 Chinese enterprises have been successfully listed on the Nasdaq market, with a gross asset value of about US$48 billion and attracting a total of US$3634 million through share subscription.
