SECP and PSX Delegation Strengthen Ties with Chinese Capital Markets

The visit aimed to deepen collaboration, explore

cross-border investment opportunities

and enhance investor participation

Business Reporter

Karachi: A high-level delegation from Pakistan‘s capital markets, led by Mr. Akif Saeed, Chairman of the Securities and Exchange Commission of Pakistan (SECP), along with Dr. Shamshad Akhtar, Chairperson of the Pakistan Stock Exchange (PSX), and Mr. Farrukh H. Sabzwari, CEO of PSX, recently concluded a week-long visit to China. The delegation included Mr. Muneer Kamal, Chairman of the National Clearing Company of Pakistan Limited (NCCPL), and senior SECP executives.

Strengthening Bilateral Collaboration

The delegation held productive meetings with top Chinese financial institutions, including:

• China Securities Regulatory Commission (CSRC)
• Shanghai Stock Exchange (SSE)
• Shenzhen Stock Exchange (SZSE)
• China Financial Futures Exchange (CFFEX)
• Shanghai Futures Exchange (SHFE)
• CITIC Securities Co. Ltd.

The visit aimed to deepen collaboration, explore cross-border investment opportunities, and enhance investor participation between the capital markets of both nations.

Signing of Key MoUs

During the visit, Mr. Farrukh H. Sabzwari, CEO of PSX, signed Memorandums of Understanding (MoUs) with the Shanghai Stock Exchange (SSE), Shenzhen Stock Exchange (SZSE), and China Financial Futures Exchange (CFFEX). These agreements represent a pivotal step in fostering mutual growth, capacity building, and financial innovation.

The MoUs focus on:

• Development of new financial products, including Exchange Traded Funds (ETFs).
• Promoting listings of Chinese-Pakistani joint venture companies.
• Organizing joint conferences and events to engage market participants.

Leadership Insights

Mr. Akif Saeed, Chairman SECP, remarked, “These MoUs signify a major step forward in fostering closer ties with China. They will enhance bilateral cooperation, strengthen Pakistan’s capital market, and align it with international best practices, ultimately contributing to Pakistan’s economic growth.”

Dr. Shamshad Akhtar, Chairperson PSX, highlighted, “These MoUs build upon the foundation laid in 2016, when 40% of PSX shares were acquired by a Chinese consortium. They reflect the deepening financial and economic ties between Pakistan and China.”

Mr. Farrukh H. Sabzwari, CEO PSX, added, “These agreements pave the way for launching cross-border ETFs and enhancing bilateral partnerships to drive the growth of Pakistan’s capital market.”

Strengthening Economic Relations

The visit underscores Pakistan’s commitment to fostering strategic partnerships with China, especially in the financial sector. These agreements are expected to drive innovation, strengthen investor confidence, and create new growth opportunities for both nations.