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Shanghai Gold Exchange Signed MOU with Budapest Stock Exchange

Date: 2017-05-15

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On May 13th, 2017, Shanghai Gold Exchange (“SGE”) signed MOU with Budapest Stock Exchange (“BSE”) in Beijing on the occasion of the Belt and Road Forum for International Cooperation. 

Mr. PAN Gongsheng, Deputy Governor of the People's Bank of China (PBOC) and head of the State Administration of Foreign Exchange (“SAFE”), Mr. Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, and Mr. Mihály Varga, Minister of National Economy of Hungary, witnessed the signing ceremony. Mr. Richard Vegh, Chairman and CEO of BSE, and Mr. JIAO Jinpu, Chairman of SGE, signed the MOU on behalf of both parties. The signing ceremony was hosted by Mr. SONG Yuqin, Deputy Managing Director of SGE. 

Mr. PAN Gongsheng, Deputy Governor of the PBOC, pointed out in his speech that, Hungary, as the first European country to join China’s “Belt and Road”, has the only RMB clearing center in the Central and Eastern Europe, and has maintained a well political and economic relations with China. Establishing partnership with BSE is one of SGE’s measurements to implement the “Belt and Road” strategy, to promote the internationalization progress of the gold market, and to promote the cooperation development between China and the countries along the “Belt and Road”. 

At the signing ceremony, Mr. Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, expressed that, the signing of the MOU represent that the two parties will further strengthen their cooperation to provide a more comprehensive and more professional market service for their investors, and to open up a more diversified investment channels for the investors. 

Mr. JIAO Jinpu, Chairman of SGE, said that, as the world’s major gold trading market, SGE has been committed to promoting the interoperability and innovative development of China and the world’s gold market and gold trading. This partnership between BSE is a concrete practice for SGE to implement the strategy of the “Belt and Road”. It is an important starting point for both parties to work together for the future. The cooperation between the two parties will help to speed up the cultivation of the gold market and the financial reform and innovation. 

Mihály Varga, Minister of National Economy of Hungary, pointed out that, the signing of the MOU is another step to promote the economic cooperation and communication between the two countries. The two countries will take this signing as an opportunity to promote the common development of the gold market. 

Mr. Richard Vegh, Chairman and CEO of BSE, said that, the signing of the MOU is a good foundation for both parties’ communication and cooperation. In the future, both BSE and SGE will actively explore domestic and foreign market’s new cooperation models under this MOU framework, and jointly promote a healthy, steady and orderly development of the two countries’ gold market. 

Delegates of Financial Market Department of the People’s Bank of China, Embassy of the Republic of Hungary in China, State Secretary of National Economy of Hungary, General Office of National Economy of Hungary, Hungarian Export-Import Bank, Hungarian Investment Promotion Agency, Foreign Affairs and Trade of Hungary (Chinese Department), and the Chinese partner of Budapest Stock Exchange attended the signing ceremony. 


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