Press Release Detail

Riyadh, 12 December 2023: Today Saudi Tadawul Group announced the signing of a Memorandum of Understanding with the Shenzhen Stock Exchange to promote development and cooperation between the two exchanges. The MoU was signed during the Shenzhen Stock Exchange delegation’s visit to Saudi Arabia.

In line with Saudi Tadawul Group's commitment to diversifying and enhancing the Saudi capital market, both Exchanges will also explore cross-listing opportunities, as well as the development of indices, funds, REITs, and ETF products to promote greater investment in Saudi Arabia and China.

The MoU will also facilitate knowledge sharing in listing family businesses, SMEs and IR initiatives.

Speaking on the occasion, AlHasan Ashram, Chief Operations Officer of Saudi Tadawul Group, said, "As we continue to advance the growth of the Saudi capital market, the MoU with the Shenzhen Stock Exchange is a significant step in this journey and will facilitate greater collaboration between Saudi Arabia and China. We have a shared commitment to advance the development of our capital markets, and I believe that this will benefit issuers and investors in both countries. We look forward to working closely with our partners at the Shenzhen Stock Exchange to leverage our collective strengths and expertise, creating new opportunities for growth and innovation in  capital markets."

Rui Tang, Executive Vice President of the Shenzhen Stock Exchange, said, “With the signing of the MoU, the two sides will strengthen the complementarity of advantages, enhance consensus on development, and conduct practical cooperation in ESG , FinTech, and among other areas. The two exchanges will jointly promote cross-border link of products such as indices and ETFs, build cross-border investment and financing services platform for both countries’ enterprises and investment institutions, and enhance the ability of the capital market to serve the real economy of the two countries.”

Saudi Tadawul Group has signed several MoUs with international exchanges to promote cross border investments and cooperation. These include with the Singapore Exchange, Hong Kong Exchanges and Clearing, and most recently, the Shanghai Stock Exchange, to explore collaboration opportunities. 

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