China's Biggest Exchange Wants More Deals With Foreign Peers
- Plan is part of mainland’s ‘One Belt, One Road’ initiative
- Chinese group bought a 40% stake in Pakistan Stock Exchange
A man sits in front of electronic boards at the Shanghai Stock Exchange in Shanghai, China, on Tuesday, Sept. 22, 2015. U.K. Chancellor of the Exchequer George Osborne is seeking to strengthen Britain's ties with China, including a possible stock-exchange link, as he underlines the country's value as an investment partner in spite of recent market shocks.
Photographer: Qilai Shen/BloombergShanghai Stock Exchange outlined plans for closer links with other national markets, taking further steps to enact President Xi Jinping’s policy to project Chinese soft power around the world.
The bourse will seek business and strategic cooperation with other exchanges, it said Friday, which could include buying stakes in its peers. It was part of a group that at the end of last year agreed to purchase 40 percent of the Pakistan Stock Exchange, and it recently signed agreements with markets in Malaysia and Luxembourg to increase cooperation.