Prime Minister visits Shanghai Stock Exchange, proposes cooperation to develop financial center

At the meeting, the Prime Minister learned about the formation process, management mechanism and operation of SSE - the largest and most influential stock exchange in China, playing a key role in the capital market and global financial center. Established in late 1990, SSE is currently ranked third in the world in terms of capitalization, after the New York Stock Exchange and Nasdaq of the US, with a capitalization value of more than 7,170 billion USD and more than 2,000 listed companies (as of December 2024).

Thủ tướng thăm Sở Giao dịch Chứng khoán Thượng Hải, đề xuất hợp tác phát triển trung tâm tài chính- Ảnh 1. — Prime Minister Pham Minh Chinh performs the gong ceremony to open the trading session at the Shanghai Stock Exchange (SSE). Photo: VGP

The Prime Minister highly appreciated the fact that in just over 3 decades, SSE has become the leading exchange in Asia and the world, affirming its role as a center connecting the domestic capital market with global finance. The Prime Minister was particularly interested in SSE's policies and mechanisms in attracting investors, mobilizing capital for the economy , and its experience in transforming from a frontier market to an emerging market.

SSE leaders said that the exchange is currently under the China Securities Regulatory Commission (CSRC), with many specialized departments and divisions such as listing supervision, issuance, clearing, product development, trading technology and investor education. In recent times, SSE has promoted internationalization through connection mechanisms with major exchanges such as Hong Kong, London, Tokyo, Frankfurt... to expand cross-border listings and attract global investors.

Thủ tướng thăm Sở Giao dịch Chứng khoán Thượng Hải, đề xuất hợp tác phát triển trung tâm tài chính- Ảnh 3. — SSE leaders introduced to the Prime Minister the history of SSE's formation. Photo: VGP

Prime Minister Pham Minh Chinh suggested that SSE and the Shanghai International Financial Centre increase experience sharing with Vietnam in developing the young stock market, gradually upgrading it to an emerging market; support the construction of an international financial centre in Vietnam; develop investment attraction policies and mechanisms, and effectively mobilize capital for the economy.

The Prime Minister also emphasized the desire to strengthen close cooperation between SSE and exchanges and financial centers in Vietnam, while supporting the training of high-quality human resources in the fields of finance and securities, in line with the trend of integration and sustainable development.

On the afternoon of June 26, Prime Minister Pham Minh Chinh visited the Pudong Exhibition Hall, which recreates the development and opening process of Shanghai's most modern area.

Expressing his impression of the strategic vision of the Chinese leadership, the Prime Minister highly appreciated the transformation of Pudong from a riverside agricultural area in 1990 into a dynamic and prosperous economic and financial center. After 35 years, Pudong has become a symbol of development with many skyscrapers and outstanding achievements in trade, technology and finance.

The exhibition consists of seven exhibition areas, using interactive technology and visual images to showcase major developments such as infrastructure development, the establishment of the Shanghai Free Trade Zone and groundbreaking reforms.

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