According to Shenzhen Qianhai Financial Holdings Co. (QFH), a wholly owned company of Qianhai Authority, Luxembourg Stock Exchange (LSE) inked a memorandum of understanding with QFH and Chinese Merchants Bank Co. Ltd. (CMB) on Friday, enabling QFH to become the first State-owned financial holdings company to cooperate with LSE.
The three parties will share information and practical experience from different markets; share resources such as commercial papers, stocks, asset securitization, investment funds and private equity; collaborate on fund listings such as Undertakings for Collective Investment in Transferable Securities (UCITS) and AIF (alternative investment funds); and work on innovative financial product listings and research on financial instrument listing, according to the MOU.
Qianhai aims to build a green channel to help issue financial products in Luxembourg and other European markets.
Cooperation between these three parties is regarded as one of the fundamental steps in building the Greenwich version of Qianhai Shenzhen-Hong Kong Fund Town, which was proposed in mid-October. On Oct. 11, QFH signed a strategic cooperation agreement with Shenzhen Metro Group Co. to initiate the fund town.
Qianhai is designated as the national strategic “platform” for Shenzhen-Hong Kong cooperation and a pilot area for financial innovation. It has carried out many innovative measures such as cross-boarder RMB syndicated loans and issuing Qianhai Cross-border Finance Index.
The Luxembourg Stock Exchange specializes primarily in the listing of international bonds, in which it is ranked first in Europe.
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