China Wealthtech

Dubai and Shanghai Exchanges to Share Expertise in Financial Collaboration

The Dubai Financial Market (DFM), Nasdaq Dubai, and the Shanghai Stock Exchange (SSE) have recently signed a Memorandum of Understanding (MoU) to enhance cooperation between the financial markets of Dubai and China.

Announced on 20 November 2023, this agreement represents a significant step in fostering cross-border collaboration in the financial sector.

Under this partnership, DFM, Nasdaq Dubai, and SSE aim to exchange knowledge, expertise, and information, thereby improving efficiency and transparency in both markets.

A key focus of this collaboration is the development of financial products that are relevant to both markets. This includes the creation of indices, Exchange Traded Funds (ETFs), and products linked to Environmental, Social, and Governance (ESG) criteria and sustainability.

Furthermore, the agreement includes plans for DFM and SSE to work together on product development, aiming to introduce companies and issuers to the benefits of each market.

This collaboration is expected to provide these entities with access to new growth opportunities and services, addressing the evolving needs of market participants in both regions.

Hamed Ali

Hamed Ali, CEO of Dubai Financial Market and Nasdaq Dubai said,

“The partnership with the Shanghai Stock Exchange (SSE) marks a significant step in strengthening our international ties and fostering cooperation in key areas of our capital markets development. This partnership opens doors to exploring new opportunities and expanding our market reach.

In an evolving financial landscape, global collaboration is paramount. Together with Shanghai Stock Exchange, we aim to bring the best practices and expertise from both sides, unlocking new horizons for market participants and fortifying the growth of our financial ecosystems.”

Cai Jianchun

Cai Jianchun, President of Shanghai Stock Exchange said,

“We are pleased to establish partnership with DFM and announce our MoU signing to explore potential opportunities in corsslisting, indices, ETFs, ESG and other areas. We look forward to working closely with DFM to advance product cooperation and further strengthen the cooperation between two markets.

Next, under the guidance of our regulator, China Securities Regulatory Commission, SSE will further deepen the high-standard opening-up to the world and continue to explore a diversified cooperation mechanism with stock exchanges in the Middle East region, to strengthen bilateral cooperation, explore multilateral cooperation, continuously enrich and deepen cooperation format.”