OREANDA-NEWS. Hong Kong Exchanges and Clearing Limited (HKEX) and the People's Government of Shandong Province (Shandong Provincial Government) today (Thursday) signed a Memorandum of Understanding (MOU) to strengthen communication and cooperation, aiming to support and promote future developments in both capital and commodities markets.

The MOU was signed by Li Gang, HKEX's Co-head of Market Development, and Ge Zhiqiang, Deputy Director of the Shandong Financial Services Office, at a ceremony held in Jinan, Shandong Province.  Deputy Shandong Governor Zhang Wufeng, HKEX Chief Executive Charles Li, and other senior executives from HKEX and the Shandong Provincial Government witnessed the signing.

HKEX and the Shandong Financial Services Office also co-hosted a conference today to introduce Hong Kong's financial market and HKEX.  Over 100 representatives from local financial services offices and Shandong-based enterprises joined the event.

In his opening remarks, Mr Zhang said, "Shandong should make use of the opportunities offered by the MOU to deepen its cooperation with HKEX. Shandong enterprises should also strengthen their cooperation with HKEX and other Hong Kong financial intermediaries, to develop a better understanding of the international capital markets and to gain the confidence to raise capital in Hong Kong."

"HKEX aims to work closely with Shandong's government, financial institutions and warehouse companies to support the further growth of the province's physical economy through opportunities in spot commodity trading and the internationalisation of warehousing," said HKEX Chief Executive Charles Li in his remarks at the conference.

There were also presentations by HKEX’s Chief China Economist Ba Shusong, Co-head of Market Development Li Gang and Head of Mainland Affairs Mao Zhirong on the development of asset management in the Mainland, update of the Stock Connect programme and HKEX's spot commodities strategy.