Hoping to strengthen ties between their financial institutions, heads of South African and Chinese capital markets held a forum today in Johannesburg, according to a report in NZweek.
Although struggling with slowing growth in recent years, South Africa has strong markets and financial institutions, the report said. In the 2012-2013 World Economic Forum Global Competitiveness Survey, South Africa ranked first in terms of regulation of its securities exchanges for the third consecutive year, and third in its availability to raise finances through the local equity market.
“I hope that this forum will lead to productive collaboration between the Johannesburg Stock Exchange and the Shanghai Stock Exchanges,” said Humphrey Borkum, chairman of the JSE, at the launch of the first S.A.-China Capital Market Forum.
The forum will provide financial leaders, governments and regulators an opportunity to discuss economic activities between South Africa and China, and to share experiences and ideas about the opportunities and challenges related to investing in each country, Borkum said.
“By sharing the expertise that exists in both of our countries, South Africans might come closer to achieving higher growth for its economy, and China to improving the governance and functioning of its equity capital markets,” said Deputy S.A. Reserve Bank Governor Daniel Mminele. “In the spirit of collaboration of the BRICS alliance, to which both China and South Africa belong, it is fitting for us to support each other’s economic progress.”