Chinese high-level delegation visits Qatar Exchange
- Qatar: Monday, November 12 - 2012 at 15:42
- PRESS RELEASE
A Chinese delegation headed by Mr. Jiang Yang, Vice Chairman of the China Securities Regulatory Commission (CSRC), and Mr. Yang Maijun, Chairman of the Board of the Shanghai Futures Exchange, visited Qatar Exchange and met Mr. Rashid Bin Ali Al-Mansoori, CEO of Qatar Exchange, and several department directors of Qatar Exchange.
Mr. Al-Mansoori also emphasized the importance and necessity of mutual cooperation between the two markets and briefed the delegation on Qatar Exchange and its various initiatives that have been ongoing in an effort to transform QE from a local exchange into a regional exchange.
Mr. Al-Mansoori stated that QE went on various development stages, especially after signing the strategic partnership with NYSE Euronext. He also explained the latest initiatives that QE persisted in its efforts to be in line with the largest and most advanced exchanges in the world through introducing new diversified traded products, enhancing the technological infrastructure and developing legislative framework in order to provide different investors with diversified investment tools, including the ETF's and REIT's and enhance the principles of transparency in the market in preparation for the anticipated development in Qatar's capital market.
On his part, Mr. Yang briefed the Qatari management on the Chinese capital market and the role of the CSRC in providing regulatory function for the securities market. He also emphasized on the importance of strengthening the bilateral relation to consolidate the capital markets, especially in light of the high growth achieved by both countries and the desire to attract foreign investments. In this regard, Mr. Yang stated that the daily trading volume in the Chinese securities market is over $20bn in which the individual trading volume accounts for about 80%. He added that there are 2600 companies listed in two exchanges, along with more than 100 brokerage companies and 60 fund management companies.
CSRC is China's nationwide centralized securities supervisory system. The CSRC formulates policies, laws and regulations concerning markets in securities and futures contracts and oversees issuing, trading, custody and settlement of equity shares, bonds, investment funds.
Shanghai Futures Exchange is one of China's largest futures markets and it is specialized in the futures contracts in copper, aluminium, zinc, natural rubber, fuel oil, and gold. is The turnover of China's futures market hit $21.39 trillion during the first 10 months of 2012, a year-on-year increase of 18.84%, latest data has indicated.
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