Hanoi Stock Exchange and Shenzhen Stock Exchange Sign MOU
On May 18, 2011, the Memorandum of Understanding (MoU) Signing Ceremony between Hanoi Stock Exchange (HNX) and Shenzen Stock Exchange (SZSE) was held at HNX.
Mr. Tran Van Dzung, Vice Chairman cum CEO of HNX and Mr. Zhou Ming, Vice President of SZSE, on behalf of the two sides, signed the MoU in the witness of leaders and officials from State Securities Commission and the two exchanges, respectively. The purpose of this MoU is to facilitate channels of communication and to foster a continuing relationship between the parties for the respective benefit of the financial services industry in the People’s Republic of China and the Socialist Republic of Vietnam, and to assist in the maintenance of orderly securities markets in each of the aforementioned countries.
The two exchanges reached an agreement on the following issues: sharing information or data regarding market performance, listed companies, market regulations and other related information; establishing mechanism for regular meetings between senior executives of the Exchanges; further cooperating in the issues concerning the exchange of staff, and other topics of mutual benefit.
After more than six years of operation, HNX has established and developed three separate markets: listed securities, government bond and UPCoM (Market for Unlisted Public Companies). Until now, HNX has nearly 400 listed companies, 500 bond codes and 126 companies registered on UPCoM.
SZSE is one of the two exchanges in China, launched in 1990 with the mission to develop multi-tier capital market: Class A and B Board for blue chips, SME Board for potential small – medium, emerging and hi-tech companies, the market for developing and advanced technology specialized companies and the OTC market. Currently, there are 1,277 companies listed on the SZSE with total market capitalization reached US$ 1,300 billion.
Speaking at the ceremony, Mr. Tran Van Dzung highly appreciated the cooperation with Shenzhen Stock Exchange. The MOU signing created a framework of cooperation between the two Exchanges thanks to the development of communication channels, exploration of business opportunities as well as the exchange of knowledge and experiences for the benefit of both sides and investor community in the both countries.
As for the SZSE, Mr. Ming Zhou also believed that the signing of this MOU elevated the relationship between the two Exchange to a new level, creating a momentum for the stronger development for the stock markets of both countries.