Frankfurt a.M. / Germany, November 20, 2019 – “China is continuing to be a staunch supporter and defender of economic globalization”, announced WU Ken, Chinese Ambassador to Germany, in his opening address of the 4th CEINEX Financial Markets Forum as part of the Euro Finance Week in Frankfurt. He emphasized that at present, China is accelerating the pace of an all-round opening up, including continuing to expand the financial markets opening, optimizing the business environment, deepening multilateral cooperation, and promoting the Belt & Road Initiative. “I hope that the guests from all parts of the financial services industry and the real economy will take this conference as an opportunity to broaden their thinking and brainstorm together”, Ambassador WU Ken gave the participants on the way.
More than 300 high-level decision makers from politics, supervisory authorities and financial markets participants gathered in Frankurt to discuss opportunities and challenges of the integration of global financial markets, the connection between Chinese and European financial markets and the bridges between both regions‘ real economies, including the sector of payment transactions.
Dr. Burkhald Balz, Member of the Executive Board Deutsche Bundesbank, turned to the audience with the request: “We must not only witness the "turnaround in payment transactions", but we must continue to actively shape this market. The banks in Germany and Europe are particularly required to act. Now!
During the conference it became clear that regulators, supervisors and infrastructure providers such as CEINEX have already achieved significant progress in bridging both markets. The successful launch of the Chinese D-Share market as well as several Bond issues listed at CEINEX are proof of this.
CHEN Han, Co-CEO of CEINEX, confirmed: „Having achieved respectable traction in the fixed income sector over the past months the focus is now on the Shanghai-Frankfurt Stock Connect. With mutual Depositary Receipt listings on the exchanges in Shanghai and Frankfurt by German and Chinese companies we strive to establish an ever-closer connection between our capital markets and real economies. The feedback from high-profile corporate issuers is emboldening.“
Investors as well as issuers underpinned that further steps should be undertaken to allow European players a broader and smoother access to Chinese markets and vice versa. The participants agreed that China’s decision to abandon the restrictions formerly imposed by investment quotas (QFII & RQFII) is an encouraging signal. At the same time, CEINEX is currently preparing further innovations in the product universe to strengthen capital market bridges between China and Europe.
„Major geopolitical constellations are in the midst of a reorganisation. In this environment, the Sino-European partnership contributes to stability and is a key driver of economic prosperity for both regions. Together, we should spend more efforts on maintaining and enriching this fruitful partnership“, stated Niels Tomm, Co-CEO of CEINEX.
About China Europe International Exchange AG (CEINEX)
Based in Frankfurt/Main, Germany, CEINEX is a joint venture established by the Shanghai Stock Exchange, the Deutsche Börse Group, and the China Financial Futures Exchange. As the first marketplace for RMB-related and China-related investment products in the Chinese offshore market, it acts as a unique bridge between the Chinese and international financial markets. CEINEX is dedicated to providing reliable offshore RMB- and China-related financial instruments to investors, so as to promote RMB internationalization.
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