Signature of a cooperation agreement between the Shanghai Office of Financial services and Paris EUROPLACE

Paris Europlace International Financial Forum

SHANGHAI--(BUSINESS WIRE)--On the occasion of the first SHANGHAI/PARIS EUROPLACE Financial Forum, the Shanghai Office of Financial Services, which is in charge of the development and promotion of Shanghai's marketplace, and Paris EUROPLACE, the organization promoting the Paris international financial center, have signed a Memorandum of Understanding to develop exchange and cooperation between the two financial centers.

Gérard MESTRALLET, Chairman of Paris EUROPLACE, Chairman and CEO, GDF SUEZ declared: "It is a great honor for Paris EUROPLACE to lay the groundwork for fruitful cooperation between our two financial marketplaces and their respective participants, and to share our common experiences. The financial crisis imposed us to re-think the fundamental of the globalization of capital markets and of our models. It is crucial in a post-crisis environment to achieve a sustainable growth both in China and in Europe and the development of new ties between our respective financial centers will contribute to that goal."

FANG Xinghai, Director of the Shanghai Office of Financial Services, underlined "We have a lot to learn from European financial markets, of which those in Paris are outstanding representatives. In addition, Shanghai and Paris have a long-held mutual admiration and certainly the development of the City of Shanghai has been profoundly influenced by the example of Paris. It is therefore a great honor to sign this Memorandum with Paris Europlace."

The MOU will focus on 5 areas of cooperation:

1- Sustain the development of Shanghai as an international financial center
Paris EUROPLACE will share its experience with the Shanghai Office of Financial Services, as well as its own marketplace model, in the modernization of the Shanghai financial marketplace.
2- Encourage and facilitate dialogue and exchange between the two financial centers
Dialogue and Exchange will be accelerated between the concerned administrations, regulatory authorities, and the financial institutions of both parties. The "Shanghai / Paris EUROPLACE Financial Forum" will take place on a regular basis in Shanghai and in Paris to enhance the image of the financial centres in both cities and to facilitate meetings between their respective financial institutions, clients and potential partners and regulatory authorities. The Shanghai Office of Financial Services will participate in financial events organised by Paris EUROPLACE and vice-versa.
3- Reinforce cooperation in the field of capital markets
The two financial centers will broaden their bilateral cooperation in the stock and bond markets. Paris EUROPLACE will help Chinese companies which seek access to euro financial markets for fund-raising or investments. In parallel, the Shanghai Office of Financial Services will supply necessary help and information to French companies looking to operate on the Shanghai financial market.
4- Foster the implementation of financial institutions in both locations
The Shanghai Office of Financial Services and Paris EUROPLACE will strive French and Chinese banks, asset management companies, insurance to locate activities in their respective financial centers and push all initiatives in financial innovation.
5- Boost research and education in Finance
The Shanghai Office of Financial Services and Paris EUROPLACE will encourage cooperation projects between their best Universities and research centers. They will promote exchanges between academics, researchers and market professionals in finance, especially in risk management, financial innovation and sustainable financial development.

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The Shanghai / Paris EUROPLACE Financial Forum in Shanghai 2010 was organized in partnership with BNP Paribas, Caisse des Dépôts, La Compagnie Financière Edmond de Rothschild, European Institute for Financial Regulation, GDF SUEZ, HSBC, Invest Securities, Institut Louis Bachelier, Cabinet JeantetAssociés, the Royal Bank of Scotland, Société Générale and with the kind support of the Economic Department of the French Embassy in China.

More information available on www.paris-europlace.net

Contacts

Paris EUROPLACE
Arnaud de Bresson, Tel : + 33 1 49 27 11 14
Délégué Général
email: bresson@paris-europlace.com