In an effort to strengthen established ties with mainland China’s two equities markets, TSX Group Co-CEO John Cieslak will lead a development team next week to meetings with senior officials of both the Shenzhen and Shanghai stock exchanges.
During the trade jaunt, which runs from November 15 to 19, there are also plans to meet with the China Securities Regulatory Commission, the national securities regulator in China, and the Chinese Ministry of Land and Resources, to maintain a continued open dialogue between China and TSX Group.
TSX Group has already signed a memorandum of understanding with the Shenzhen market. A similar bi-lateral agreement that paves the way for increased cooperation between exchange management will be signed in Shanghai on Friday, November 19. The agreements establish a framework for information sharing and general cooperation across all areas of stock exchange business.
Among the other events planned for China: Robert Fabes, senior vp, TSX, will give a keynote address at China Mining 2004 event in Beijing, Cieslak will give a public address at Beijing’s Tsinghua University, and there are plans for other public events such as visiting and having the honour of opening the stock markets in Shanghai and Shenzhen.
Together, TSX and TSX Venture Exchange list more than 50% of the world’s mining companies, a strength on which TSX Group will focus at the mining conference.
“We’re working aggressively to increase our listings from China, a market in which we see tremendous potential,” said Fabes, in a release.
“What we offer Chinese companies is a world-class exchange in traditionally strong sectors, like mining and other resources, and also in new sectors like tech and biotech. Moreover, we have a well-established and successful junior market, ideal for companies looking to raise smaller financing. In these areas, we believe Chinese companies are better served in our market than in the U.S.,” he added.
There will be a seminar on how to list on TSX during the mining conference.
TSX will also be bringing Canadian service providers, lawyers and investment bankers to Beijing to help connect Chinese companies to the intermediaries needed to pursue a successful listing.
TSX Group heading to China
Focus is on strengthening ties with Chinese stock exchanges and attracting Chinese companies to list in Canada
- By: IE Staff
- November 10, 2004 November 10, 2004
- 08:40