Investment prospects for the Philippine and Chinese capital markets are looking bright following the signing of a memorandum of understanding between the Philippine Stock Exchange (PSE) and Shenzhen Stock Exchange (SZSE).
The cooperation agreement is expected to strengthen communication and economic cooperation between the two bourses, which could help attract more investments.
“The MOU broadens the strategic alliance and strengthens the relationship between PSE and SZSE. We will explore new areas to work on that will be beneficial for both exchanges,” PSE president and CEO Ramon Monzon said.
Monzon said that among the main objectives of the collaboration with SZSE is to bring the PSE up to par with neighboring stock exchanges.
“I believe that this partnership with one of the fastest growing markets in Asia and the world will help us realize this,” he said.
The collaboration includes promotion of investments in the counterparty’s stock market, as well as sharing information on regulatory practices, market development and information technology.
The two exchanges will also pursue initiatives on market connectivity through cross-border product development.
Specific undertakings, if pursued, will be subject to the signing of definitive agreements and regulatory approvals.
The PSE and SZSE relations started in 2009 with the signing of an agreement to undertake sharing of information on various market-related matters.
