Hong Kong Exchanges and Clearing (HKEX) said on Wednesday it had signed a new strategic cooperation agreement with the Shenzhen Stock Exchange (SZSE ) in hopes of boosting investment from and in the Guangdong-Hong Kong-Macau Greater Bay Area.
HKEX and SZSE jointly launched Shenzhen-Hong Kong Stock Connect in 2016.
Under this expanded agreement, HKEX and SZSE would conduct joint marketing and promotional activities, such as forums and workshops, on Stock Connect, index and derivatives product development and cross-border regulatory updates.
On Wednesday they co-hosted a cross-border online investment conference with a focus on integrating and driving the development of the Greater Bay Area.
“The Greater Bay Area is one of the world’s most exciting economic and technological development areas,” said Nicolas Aguzin, HKEX chief executive.
He said HKEX and SZSE will also take part in reciprocal short-term training and secondment programmes for their employees to boost understanding of the development and operations.
Shenzhen-Hong Kong Stock Connect marked its fifth anniversary in December 2021. Its cumulative trading volume reached 41.9 trillion yuan, with an average annual growth rate of 94.5%.
HKEX’s average daily turnover in 2021 was HK$166.7 billion, an increase of 29% over the $129.5 billion recorded in 2020.
- George Russell
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