(Yicai) Sept. 4 -- Saudi Tadawul Group, the parent company of the Saudi Exchange, held an extension of its Capital Markets Forum series in Shanghai for the first time.

CMF Select Shanghai's main conference was held yesterday, according to Saudi Tadawul. The event continued today with a dedicated corporate access program, which gives investors opportunities to engage with participating companies, gain deeper insights into their businesses, and explore areas of mutual interest.

CMF Select Shanghai brought together over 400 participants from Saudi Arabia, China, and other international capital markets, Saudi Tadawul said, noting that the Riyadh-based company aims to strengthen cross-market connectivity through the forum and build connections among investors, issuers, and market participants.

"CMF Select Shanghai reflects the strong and evolving relationship between Saudi Arabia and China, as well as the opportunities that deeper connectivity can create across our capital markets," said Mohammed Al-Rumaih, chief executive officer of Saudi Tadawul. "The dialogue fostered through this edition creates a platform to exchange perspectives, strengthen relationships and unlock new avenues for investment and participation.

"We look forward to building on this momentum and further strengthening the integration of the Saudi Capital Market with China and the wider global capital markets," he added.

The Shanghai Stock Exchange "will further deepen cooperation with Saudi Tadawul, creating more platforms for engagement, opening up more opportunities for listed companies, securities firms and fund institutions on both sides," noted Vice Chairman Huo Ruirong. The pair will work together to build more efficient and practical bilateral connectivity platforms, creating more opportunities for communication and interaction among listed companies, brokers, funds, and other market participants from both countries, he stressed.

The SSE has always regarded promoting market openness as one of its key development strategies, said Zhang Bin, director of the bourse's international cooperation department. In recent years, it has actively expanded cooperation with other exchanges and launched a series of landmark cross-border initiatives, including the Shanghai-Hong Kong Stock Connect, the Depository Receipts under the Stock Connect, and ETF Connect, Zhang added.

The SSE's rich array of cross-border exchange-traded fund products is steadily broadening bilateral investment channels with overseas markets, Zhang pointed out. As of Aug. 31, the investment scope of cross-border ETFs on the bourse features multiple mature and emerging markets, including the United States, Germany, France, Japan, South Korea, Singapore, Saudi Arabia, and Hong Kong, with the scale exceeding CNY500 billion (USD74.4 billion), Zhang said.

"In the future, we will further enrich our cross-border ETF product lineup, including coverage of Middle Eastern markets," Zhang added. "We will continue to enhance the bilateral connectivity mechanisms, providing global investors with a more efficient and convenient platform for cross-border asset allocation."

The SSE signed a deal with Saudi Tadawul to ally in cross-listing, ETFs, market infrastructure, and other areas in 2023. The first batch of ETFs investing in the Saudi market was launched in the domestic market a year later.

Editors: Tang Shihua, Martin Kadiev