The Hong Kong stock exchange and the Shanghai Stock Exchange and Shenzhen Stock Exchange entered into an agreement in Hong Kong on 28th, establishing joint ventures in Hong Kong, engaged in the development of financial products and services, to promote the opening of China’s capital market and the reform and development to enhance the competitiveness of China’s capital market, promoting the process of internationalization of the three exchanges. Vice Chairman of the China Securities Regulatory Commission, Mr Yao, Financial Secretary of the HKSAR GovernmentJunhua, the Secretary for financial services and the Treasury, Mr CHAN and Zhang Yujun, General Manager of Shanghai Stock Exchange, Shenzhen Stock Exchange General Manager Song Liping, Chief Executive of the Hong Kong stock exchange in Hong Kong on that day was attended by Mr Li the signing ceremony for the joint venture agreement. Mr Yao said at the ceremony, since Hong Kong’s return, capital market on the Mainland and the Hong Kong capital markets partnershipWidening and deepening, the two complementary advantages, mutual capital market gradually rendered good momentum of development. Three joint venture Exchange companies, new useful attempt of the cooperation is to strengthen the exchanges between the two places, cooperate to promote exchanges between the two places is important, further broadening and deepening of cooperation between Hong Kong and the capital markets. Mr Yao said China will as always support the SFC Shanghai,Deep play to their own advantages, Hong Kong exchanges and cooperation, support for Hong Kong to consolidate and enhance the status as an international financial centre, further development of capital markets over the mutual promotion of the formation of the two places, good situation of common development. Mr, Mr Tsang said, this is a new milestone in Shanghai and Shenzhen to Hong Kong financial cooperation, the three exchanges of cooperation, is of great strategic importance. First, the joint venture company supportCapital markets opening up and reform and, second, joint venture contributed to internationalization of Hong Kong, the Shanghai and Shenzhen exchanges; third, the joint venture company is a third party provides pre-venture capital funding to set up, give full play to three exchanges with complementary advantages, mutual win-win benefits. Shanghai, Shenzhen and Hong Kong stock exchange joint venture company set up, sign financial cooperation between the Mainland and Hong Kong embarked on new stageAnd helps to promote the opening of China’s capital market and the reform and development, and to enhance the competitiveness of China’s capital markets. Mr Li said, the three exchanges have long been carried out good cooperation in many areas, new joint venture company will provide a new platform for our three-partner, while promoting the further development of capital markets in the Mainland and Hong Kong. Joint venture company striving to in 2012Launched at the end of the new boundary index series, launched on the Hong Kong stock exchange index futures and options next year, then launched other structured products and exchange-traded funds. According to reports, the joint venture company’s main business areas include, but are not limited to: development and external licensing index products, equity derivatives transactions; traded to three main market index of sample preparation of cross-border; research and developmentListed company classification criteria, standards, information products; market promotion diablo iii gold, participant services, technical services and facilities construction, and so on. Initial registered capital of HK $ 300 million for the joint venture company, by the Hong Kong stock exchange, the Shanghai Stock Exchange and the Shenzhen Stock Exchange Fund of HK $ 100 million. The three joint venture companies take up the same amount of shares, and plans to sign an agreement within 3 months after the establishment of the joint venture company. Joint ventureCompany’s Board of Directors is composed of 9 members, 3 3 Directors from each. Co-Chairman by the Shanghai Stock Exchange and Shenzhen Stock Exchange from the delegate nominated by the directors.
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