SHANGHAI, April 22 (Xinhua) -- The Shanghai Stock Exchange and Japan Exchange Group signed an ETF (exchange-traded fund) agreement Monday in Shanghai.
The ETF Connectivity Agreement was signed at a China-Japan capital market Forum held in Shanghai, which was jointly held by seven organizations, including Shanghai Stock Exchange, Shenzhen Stock Exchange and Japan Exchange Group.
Toshihide Endo, commissioner of Japan's Financial Services Agency, said Japan and China had achieved many pragmatic results in financial cooperation, which is welcomed by the Japanese government, hoping such momentum would be advanced further.
The Japanese official also said it was of great importance for both Japan and China to work together to promote the reform of the capital markets, as well as boost innovation and sustainable development of economy.
Under the agreement, the Shanghai Stock Exchange and Japan Exchange Group will list each other's ETFs, and fund companies from both sides are able to invest their fund assets in ETF products.