Shanghai Stock Exchange (SSE) announced on Thursday that it will cooperate with a partner of Kazakhstan to build the Astana International Exchange (AIX).[Special coverage]
The Shanghai exchange signed an agreement with Astana International Financial Center (AIFC) in Astana, capital of Kazakhstan, according to a statement.
According to the agreement, Shanghai exchange will be a strategic cooperation partner of the AIFC, and own 25.1 percent of the Astana exchange.
It will provide full support to the exchange in areas of technological consulting, business planning, products design and marketing.
According to plans, the Astana exchange will be a major platform for securitization of state-owned assets of Kazakhstan. It will also be a Renminbi trade center in central Asia, and an important financial platform of the Silk Road Economic Belt, providing financing for Belt and Road related projects, said the statement.
The Astana exchange will cover stocks, bonds, derivatives, funds and bulk commodity products, the statement said.