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Kazakh Minister of Trade and Integration meets with the of major Chinese exchanges

Kazakh  Minister of Trade and Integration meets with the of major Chinese exchanges
Фото: MIT 08.11.2023 09:13 2786

Minister of Trade and Integration Arman Shakkaliev held meetings with major exchanges of China - the Dalian Commodity Exchange and the Shanghai Futures Exchange, El.kz reports with reference to MIT.

The first meeting was held with the General Manager of the Dalian Commodity Exchange, Yan Shaoming. The Dalian Commodity Exchange is one of the major commodity exchanges in China. In 2023, it was ranked 1st among the world's leading derivatives exchanges by the Futures Industry Association.

The meeting was also attended by the Governor of the AIFC Renat Bekturov, who, in turn, presented the investment opportunities of the financial center.

Arman Shakkaliev stressed the desire of the two countries to strengthen the strategic partnership and expressed confidence in the prospects for cooperation with the commodity exchange. The creation of a regional exchange in Kazakhstan will ensure the high-quality implementation of the joint initiative "One Belt, One Road" and leadership in the Central Asian region

The head of the Dalian Commodity Exchange spoke about the work on the development of the Dalian Commodity Exchange brand and the introduction of new exchange instruments. With the assistance of the main regulator for the regulation of the Chinese securities market, issues of further cooperation and mutual exchange of information will be worked out.

Following the meeting, the parties agreed to continue cooperation in the field of exchange trading and make joint efforts to translate these agreements at the highest level into practice.

Further, Arman Shakkaliev visited the Shanghai Futures Exchange. The Shanghai Futures Exchange was formed after the merger of the Shanghai Metal Exchange, the Shanghai Grain and Oil Exchange, and the Shanghai Mercantile Exchange. The exchange is ranked 1st among the world's leading exchanges for metal futures according to the Futures Industry Association, as well as 4th place in Agriculture futures trading.

During the visit to the commodity exchange, Director General Wang Fenghei acquainted the Minister with the trading floor, the work on settlements and clearing, IT infrastructure and information services that ensure the functioning and introduction of new exchange instruments, including commodity derivatives.

The head of the Chinese Commodity Exchange expressed his readiness to visit Kazakhstan to sign a Memorandum of Understanding and actively cooperate with the Ministry of Trade and Integration. Also, for this purpose, bilateral meetings and special internships for exchange trading experts will be organized.

At the end of the meeting, the Minister of Trade and Integration expressed gratitude to Wang Fenghai for the friendly reception and significant contribution to the effective operation of the derivatives market.

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