Malaysian capital market to strengthen cross-border cooperation with China

PETALING JAYA: The Securities Commission (SC) will facilitate closer collaboration between the Malaysian and capital markets, which will mutually benefit both .

“The SC, along with Bursa Malaysia have had numerous engagements with the Shenzhen Stock Exchange (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 through this collaboration,” said SC chairman Datuk Syed Zaid Albar.

The SC visited the SZSE yesterday and during 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.

The SC also noted that a number of SZSE-listed companies are already operating in Malaysia under the Belt and Road Initiative (BRI), creating natural synergies and opportunities for collaboration between both countries’ capital markets.

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.

SZSE was established on Dec 1, 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 US$3 trillion as at May 2019.

Source: The Sun Daily

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