Moscow Interbank Currency Exchange (Micex) and Shenzhen Stock Exchange (SSE) of China have signed a memorandum of understanding.

The two exchanges stressed that the MOU will allow for the switching of information and experience in implementing new exchange products, the development of technologies and the organisation of exchange-based markets.

MICEX president Alexander Potemkin hailed the agreement, “Micex is interested in the SSE’s experience in building an up-to-date national exchange infrastructure which must satisfy the interest of mass individual investors in operating on the stock market,” he said.

This was echoed by SSE’s chairman Chen Dongheng who also stressed that the deal is reflects a strong relationship between the two countries. “The signing of the memorandum demonstrates the positive development of relations between the two exchanges and reflects the growing importance and intensity of business relations between China and Russia,” he said in a statement.