Shanghai Stock Exchange inks memorandums of strategic cooperation with 6 websites

Shanghai Stock Exchange inks memorandums of strategic cooperation with 6 websites

23/12/09

The Shanghai Stock Exchange (SSE), shortly after celebrating its 19th anniversary, signed yesterday the memorandums of strategic cooperation (MOSCs) with six websites, namely Sina, Sohu, 163, QQ, Hexun and Eastmoney. It was the first time, after the establishment of strategic partnership with Xinhua News Agency last year, the SSE had announced the high-level strategic cooperative relationship with network media.

The signing ceremony was held yesterday on the trading floor of the SSE. Attending the ceremony were SSE Governor Geng Liang, President Zhang Yujun and Vice President Xu Ming, CEO and President Cao Guowei of Sina, Vice President Chen Luming of Sohu and other heads of the six websites.

Geng said while meeting with the website heads that thanks to the rapid development of the internet, the number of netizens in China has climbed into hundreds of millions, a majority of whom are investors on the capital market. The characteristic that the small and medium investors account for most of the investors on China's securities market determines that the network media, with faster information dissemination, enjoys a larger audience than the traditional ones, thus playing an increasingly important role in the capital market.

Geng pointed out that correct public opinion orientation benefits capital market. The SSE has always attached importance to the role of website media and kept a sound partnership with them. Website media are expected to actively participate in the publicity of capital market and play a bigger part in guiding market opinions and delivering market information.

Zhang stated at the signing ceremony that the signing of MOSCs marks a deeper cooperation between the SSE and the website media. In the days to come, the SSE will establish and perfect the multi-level website media news communication system to support the development of leading website media through annual summits, briefings and themed idea exchange meetings.

Zhang pointed out that the signing of MOSCs, conducive to establishing more effective communication and cooperation mechanism between the SSE and the core websites, would contribute to the improvement of financial news reports from domestic websites and the acceleration of dissemination of financial information through internet, thus safeguarding the financial market's stability and the financial information distribution safety.