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The Shenzhen Stock Exchange and Canadian exchange operator TMX Group signed a Memorandum of Understanding (MoU) Monday, with both sides seeking better cooperation in the technology and innovation sectors.
Under the MoU, the two will boost personnel exchanges, improve how they share information and services and carry out cross-border financial innovation research.
Using an expanded capital formation platform, the two sides plan to connect investors and companies in the tech and innovation sectors, while also exploring the establishment of trading, clearing and settlement connections between China and Canada.
MarketWatch quoted Wang Jianjun, CEO of the Shenzhen Stock Exchange, as saying "China and Canada have a great potential for economic cooperation especially in the technology and innovation sectors."
The Toronto-based TMX Group is Canada's biggest exchange group, and operates cash and derivative markets for multiple asset classes including equities, fixed income and energy. It owns multiple major exchange platforms in Canada, including the Toronto Stock Exchange.
The MoU, which was granted approval by the China Securities Regulatory Commission on September 27, comes ahead of an expected decision in Canada's parliament on whether or not the country will pursue talks on a free trade deal with China.
The National Post cites a Canadian official as saying that a report on the feasibility of an FTA with China could be submitted for discussion as soon as this month.
Canada would be the first G7 country to set up such a deal with China, with discussions coming amid US President Donald Trump's threats to the NAFTA between the US, Canada and Mexico.
(CGTN)
