Business / Markets

Brunei to promote investment opportunities with China

(Xinhua) Updated: 2014-02-18 10:31

Brunei to promote investment opportunities with China

Premier Li Keqiang (left) agrees with Brunei's Sultan Hassanal Bolkiah to expand trade and cooperation during their bilateral meeting at Nurul Iman Palace in Bandar Seri Begawan in October, 2013. [Photo / Agencies] 

BANDAR SERI BEGAWAN - Brunei's monetary authority Autoriti Monetari Brunei Darussalam (AMBD) signed a Memorandum of Understanding (MOU) regarding Securities and Futures Regulatory Cooperation with China Securities Regulatory Commission (CSRC) on Monday.

The aim of the MOU is to promote investor protection and uphold the integrity of the capital markets in both countries by providing a framework to enhance cross-border regulatory cooperation and facilitate the exchange of information.

The MOU also provides a foundation to foster mutual understanding and encourage sound development of the capital markets in the respective countries.

With the signing of the MOU, institutions in Brunei Darussalam will be eligible to apply to the CSRC to become Qualified Foreign Institutional Investors (QFII), a plan which allows institutional investors who meet certain qualifications to directly invest into the Chinese securities market.

Signing on behalf of AMBD was Dato Haji Mohd Rosli, Managing Director of AMBD, whilst representing CSRC was its Vice Chairman, Mr Liu Xinhua. The signing ceremony was also attended by Mr Zheng Xianglin, ambassador of the People's Republic of China to Brunei Darussalam and other senior AMBD and CSRC officials.

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