Shenzhen, Abu Dhabi exchanges link up as China, Middle East move closer | Reuters
The stock exchange in China's city of Shenzhen and the Abu Dhabi securities exchange agreed to promote cross-border investment and listings in the latest flurry of co-operation between institutions in countries looking to cut reliance on the West.
It comes days after a similar pact between the Shenzhen exchange and the Saudi exchange, and less than a month after another between the Shanghai Stock Exchange and the Dubai Financial Market.
"What we're seeing is that international investment flows are shifting," said Mike Wardle, chief executive of think tank Z/Yen Group, which is based in London.
A lot of investments are starting to flow into China from the Middle East and vice versa, he added, even as some global investors are leaving China for Southeast Asian countries, such as Vietnam or Malaysia.
The signing of the memorandum of understanding between the Shenzhen Stock Exchange in the southern Chinese city and the Abu Dhabi Securities Exchange (ADX) in the United Arab Emirates was announced late on Wednesday.
No comments:
Post a Comment