InfoQuest, (April 22, 2019) -- The Stock Exchange of Thailand (SET) signed Memorandum of Understanding (MoU) with Shenzhen Stock Exchange (SZSE), reinforcing SET's strategic plan to explore new opportunities by connecting with international partners. The MoU will span five years from April 23, 2019, according to Phakorn Piotthawatchai, president of SET.
"The cooperation marks a key milestone for SET and SZSE to foster closer collaboration for capital markets, which puts China-Thailand SME Capital Market Service Initiative into effect. It also provides support and creates information platform for Thai and Chinese small and medium-sized enterprises (SMEs), as well as promotes economic competitiveness of the two countries. In addition, the MoU calls for the establishment of ChiNext-mai Alliance between China's ChiNext and Thailand's MAI, so as to expand the financing channels for SMEs in the two countries, promote the popularity of their stock exchanges, as well as facilitate cross-border products and services.
SZSE Executive Vice President Li Hui noted that the MoU continues the collaboration between SZSE and SET under the framework of the China-Thailand SME Capital Market Service Initiative. The MoU is going to promote collaboration in the cross-border innovation, aiming at facilitating the economic integration and development of the two countries. It mainly focuses on three areas, that is, cultivation of technology start-ups, forming an alliance for growth markets of the two countries and exploring new channels for two-way financing and investing.
In March, a MoU was also signed between SET and Xinhua News Agency, China's mainstream media, focusing on information exchange to enhance economic and investment development in Thailand and China.
Source: InfoQuest, by Rachada Kongkhunthian / Wilawan, translated by Xinhua Silk Road
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