China, Germany exchanges to co-launch offshore yuan platform before year-end

Stockholm, June 4 (Greenpost) — Chinese and German exchanges are to jointly launch an offshore yuan platform to trade financial instruments in Frankfurt before the end of this year, a source told Xinhua on Monday.

The Shanghai Stock Exchange and the China Financial Futures Exchange had conducted intensive talks with the Deutsche Boerse Group on plans for cooperation over the last week.

According to a source attended the meetings, the three exchanges had reached a consensus to jointly establish a trading platform that offers Chinese investors direct access to German financial markets.

Media reports said last Friday that the Shanghai Stock Exchange and the Deutsche Boerse had agreed to build cross-listing arrangements for companies from both countries. The source denied these reports, saying they were highly exaggerated.

The source added that the cooperation deal among the three exchanges was a detailed follow up to the decisions that top leaders from the two countries had reached during the first China-Germany high-level financial dialogue held in Berlin in mid-March. Enditem

Source Xinhua

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