The NASDAQ Stock Market LLC (NASDAQ) and the Shanghai Stock Exchange (SSE) today announced the signing of a Memorandum of Understanding.
NASDAQ and the SSE have established a formal understanding to develop channels of communication and forge an ongoing relationship and sharing of information between the two markets. This will be for the benefit of investors in the U.S. and the People's Republic of China.
Adena Friedman, Executive Vice President of NASDAQ's Corporate Strategy said, "Since its foundation in 1990 the SSE has made impressive inroads in its technology and development. NASDAQ looks forward to this understanding evolving further and to sharing information with this important market. As an exchange we have been committed to China for a number of years. By increasing the lines of communication between the two exchanges, we expect this agreement to benefit market participants and the financial services industry in the U.S. and the People's Republic of China."
NASDAQ currently lists 29 Chinese companies with a combined global market cap of approximately US$20.1 billion.