Local bourse woos Chinese investors

The Philippine Stock Exchange seeks to ride on warmer diplomatic ties between the Philippines and China by encouraging more Chinese investors to participate in the local equities market.

Delegates from the Shenzhen Stock Exchange (SZSE) led by its chair Wu Lijun visited the PSE last December and were warmly welcomed by PSE president Ramon Monzon and his management group.

“They came here. We had very good meetings and we agreed to work together,” Monzon said in an interview.

“Our eventual objective is to open the Philippine market to Chinese investors,” he added.

The visit by SZSE officials provided both bourses an opportunity to explore potential partnerships and areas for cooperation.

In his speech to welcome the guests from SZSE, Monzon said: “We were greatly inspired at how you were able to transform your exchange to become one of the world’s leading bourses. Your growth story provides an ideal model for markets like ours as we also define our growth plan in the coming years.”

A tie-up with SZSE is envisioned to establish a cross-border trading linkage or “Shenzhen Connect.” This connectivity is seen to boost the flow of Chinese investments into the local stock market.