In response to the acquisition of a stake in the Pakistan Stock Exchange by a consortium led by three Chinese stock exchanges, China Securities Regulatory Commission spokesperson Deng Ke says this deal is beneficial for both economies.
"Three Chinese stock exchanges have acquired a 30 percent stake in the Pakistan Stock Exchange. This investment will help expand economic and financial cooperation between the two countries. It will also help implement the One Belt One Road initiative and the China-Pakistan Economic Corridor. It will inject new content into the traditional friendship between China and Pakistan."
The deal took place in January.
Under this deal, three Chinese stock exchanges obtained a combined 30 percent stake in the Pakistan Stock Exchange and become the largest shareholder of the bourse.
The deal marks the first time that a Chinese exchange has become a shareholder of foreign bourse.
This is also China's first investment in stock trading platforms in the countries along the Belt and Road route.
(Source: CRIEnglish.com)
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