During the visit, part of his working trip to China, the PM received a comprehensive briefing on the SSE’s history and development, management framework, operational model, core functions, product offerings, market capitalization relative to China’s economy, and trading activities.
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Prime Minister Pham Minh Chinh and the Vietnamese delegation visit the Shanghai Stock Exchange (SSE) and the Shanghai International Financial Center (IFC) on June 26. |
A key focus of the discussion was the SSE’s policies and mechanisms aimed at attracting investors and mobilizing capital to fuel economic growth. PM Chinh also explored the exchange’s journey from a frontier market to an emerging market, the interplay between the SSE and the Shanghai IFC, as well as regulatory oversight and dispute resolution processes.
SSE officials told the Vietnamese leader that the exchange was established in late 1990 and has since grown to become China’s largest and most influential stock exchange. Globally, the SSE ranks third after the New York Stock Exchange and Nasdaq, boasting a market capitalization of approximately 7.17 trillion USD as of December 2024 and hosting over 2,000 listed companies.
Operating under the supervision of the China Securities Regulatory Commission (CSRC), the SSE’s departments cover issuance and listing supervision, clearing and settlement, trading technology, product development, communications, and investor education.
Beyond its role in China’s capital market, the SSE is progressively integrated into the global financial system. Recent initiatives include partnerships with foreign exchanges and connectivity schemes such as the Shanghai – Hong Kong Stock Connect and Shanghai – London Stock Connect. It also collaborates with major international exchanges in Hong Kong (China), Tokyo (Japan), London (the U.K.), and Frankfurt (Germany) to facilitate cross-border listings and attract global investors.
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Prime Minister Pham Minh Chinh (left) performs the gong-beating ceremony to open a trading session at the Shanghai Stock Exchange. |
The SSE’s vision is to evolve into a globally influential stock exchange that drives high-quality capital market development and supports China’s economic transformation, innovation, digitalization, and high-tech advancement, aligned with the country’s “Made in China 2025” strategy, SSE officials said.
Congratulating the SSE on its rapid ascent as the world’s third-largest stock exchange, PM Pham Minh Chinh acknowledged the critical role of the SSE and the Shanghai IFC within China’s “dual circulation” economic strategy.
He called on the SSE and the Shanghai IFC to share their expertise with and provide technical support for relevant Vietnamese ministries and agencies during the process of building Vietnam’s own international financial center.
The PM also asked for assistance in facilitating the growth of Vietnam’s young stock market from a frontier to an emerging market status, improving exchange management and operations, and promoting infrastructure development. He particularly emphasized seeking advice on policies and mechanisms to boost investor attraction and capital mobilization for Vietnam’s economy.
Source: VNA