Minton lawyers bring about the strategic cooperation agreement between the Shanghai Equity Exchange and NSX
On 10 February 2015 the Shanghai Equity Exchange and the National Stock Exchange of Australia signed a strategic cooperation agreement at the Exchange's premises, Zhang Yunfeng, its general manager, Wei Shuming, assistant to the general manager, and Emlyn Scott, chief executive of NSX, signing together. Shanghai Minton Law Firm, which promoted the arrangement, took part throughout. The two sides reached intentions on exchanging information on securities, cooperating on projects, sharing supervisory experience and financial cooperation in the free trade zone. Wei Shuming said the agreement showed a global vision, and Scott called it a great moment for both financial markets.
On 10 February 2015 the signing ceremony for the strategic cooperation agreement between the Shanghai Equity Exchange and the National Stock Exchange of Australia was held with due ceremony at the Shanghai Equity Exchange. Under the Exchange's chairmanship, Zhang Yunfeng, general manager of the Exchange, Wei Shuming, assistant to the general manager, and Mr Emlyn Scott, chief executive of the National Stock Exchange of Australia, attended and signed together. Shanghai Minton Law Firm, which promoted the signing, took part in the whole of the proceedings.
The Chinese and Australian sides reached a number of intentions for strategic cooperation on the exchange of information in the securities field, cooperation on projects, exchange of supervisory experience and financial cooperation in the free trade zone.
Mr Wei Shuming, assistant to the general manager of the Shanghai Equity Exchange, considered that the signing of the agreement brought out the Exchange's strategic vision of the global market: as the financial policy of the Shanghai free trade zone opens up step by step, the Exchange is actively exploring and accumulating experience of cooperating with international stock exchanges and is the first to build up resources, encouraging enterprises to list overseas and raise funds lawfully while safeguarding the interests of domestic enterprises and investors, and at the same time actively studying and exploring foreign systems of securities supervision so as to raise the standard of domestic supervision, in particular its institutional framework.
Mr Emlyn Scott, chief executive of NSX, said: "This is not merely cooperation between the Shanghai Equity Exchange and NSX but a great moment for the Chinese and Australian financial markets. Australia attaches great importance to trade and economic exchange with China, which is Australia's largest trading partner. And as the Shanghai Equity Exchange is the largest over-the-counter securities market in China, cooperation between NSX and the Exchange will open the door for Chinese enterprises to raise funds and cooperate financially across the globe."
The agreement was reached through the active efforts of Shanghai Minton Law Firm. As a firm specialising in taking Chinese enterprises to list in Australia, its director Shen Mo considers that listing in Australia offers a high success rate, transparent and standardised procedures and low listing costs, among many other advantages, and is very well suited to medium-sized Chinese enterprises and a preferred platform for them to raise funds overseas.