(Yicai Global) June 14 -- The Shanghai Stock Exchange held an unveiling ceremony for its international cooperation center during the ongoing 11th Lujiazui Forum today. The center will promote communication and cooperation between exchanges across the world, the Shanghai Observer reported, citing the bourse.
The center was jointly formed by the SSE, the Shenzhen Stock Exchange and the Shanghai Stock Exchange Foundation. Its functions include holding seminars and discussions on the capital market and exchanges, information sharing, project research and personnel training.
Joint efforts by the Shanghai and Shenzhen exchanges will help promote the linking of capital markets along the regions of the Belt and Road Initiative, according to Zheng Yang, director of the Shanghai Municipal Financial Regulatory Bureau. Their cooperation will also help them to better serve infrastructure projects, and is of great significance to further opening up China's capital market and deepening financial reforms, he added.
Zheng also said Shanghai will strive to establish a Belt and Road exchange union to enhance the domestic capital market's ability to allocate global resources and contribute more to building Shanghai into an international financial center.