bridging markets / trade china / new opportunities - cin euoe … en... · 2019. 12. 24. ·...
TRANSCRIPT
CHINA EUROPEINTERNATIONAL
EXCHANGENewsletter
OCT 2018 ISSUE 07
WWWCEINEXCOM FOLLOW US
15
NEW CEINEX D-SHARE MARKET STARTED WITH HAIER LISTING IN FRANK-FURTSource Ceinex October 24 2018With the listing of Qingdao Haier (ISIN CNE1000031C1) the Chi-na Europe International Exchange (CEINEX) has started its new market for Chinese blue-chips in Frankfurt the CEINEX D-Share Market The newly issued shares of the interna-tionally leading producer of consum-er electronics and home appliances headquartered in Qingdao in Chinarsquos Shandong province are listed in the Prime Standard which is part of the EU-regulated market of the Frankfurt Stock Exchange (FSE) and were quot-ed at euro 106 at the start of trading
By starting this market CEINEX pro-vides for a new bridge in connecting the Chinese and international mar-kets for Chinese issuers and investors globally While the D in D-Shares stands for ldquoDeutschlandrdquo or ldquoDeacuteguoacuterdquo the name for Germany in Chinese D-Shares are shares issued by com-panies incorporated in accordance with the Company Act of the Peoplersquos
Republic of China and listed on the CEINEX D-Share Market through admission to trading on the EU-regu-lated market of the FSE
Dr Chen Han Co-Chief Executive Officer of CEINEX says ldquoToday we celebrate the opening of a new bridge between Chinarsquos and Europersquos finan-cial markets Haier as the internation-al leader in white goods is a wonder-ful first D-Share company CEINEX is looking forward to further establish its platform and grow the D-Share Mar-ket with more Chinese blue-chips in the future The first D-Share IPO and listing by Haier marks the beginning
of a new era for Chinese companies on European capital marketsrdquo More
ISSUE 07CEINEX NEWS
25
NEW ETF ON CEINEX BY HSBC GLOBAL ASSET MANAGEMENT TRACKS THE INCLUSION OF CHI-NA A-SHARES INTO MSCI INDEX FAMILY Source Ceinex October 16 2018FrankfurtMain Germany October 16 2018 ndash China Europe Interna-tional Exchange AG (CEINEX) wel-comes the launch of the HSBC MSCI China A Inclusion UCITS ETF ndash the first of its kind to track the inclusion of domestic Chinese A-Shares in MSCI global benchmarks through the Stock Connect ndash on its marketplace in Frankfurt which is a part of the reg-ulated market of the Frankfurt Stock Exchange
The new HSBC ETF allows investors to easily allocate to Chinarsquos mainland markets via China A-Shares as their part in global portfolios increases
ETF Name HSBC MSCI China A Inclusion UCITS ETFAsset Class Equity Index ETFISIN DE000A2N5QJ3Total Expense Ratio 060 paDistribution Policy distributingCurrency EURReference Index MSCI China A Inclusion Index Net Total Return (M1CNA Index)
CHEN Zhiyong Executive Board Member Product Development CEINEX said ldquoThe inclusion of Chi-na A-Shares in global benchmarks is a significant recognition of how open Chinarsquos stock markets have become We are very pleased to have one of the leading international financial institutions ndash HSBC Global Asset Management ndash onboard to provide this innovative ETF for global inves-tors to track the inclusion of China A-Sharesrdquo
Joseph Molloy Head of Index and Systematic Equity Portfolio Manage-ment HSBC Global Asset Manage-ment commented ldquoThe HSBC MSCI China A inclusion UCITS ETF gives foreign investors quick and easy ac-cess to mainland Chinese equities through China A shares which were traditionally only available to main-land citizens As the ETF is designed to track the progressive partial inclu-sion of China A shares in the MSCI Emerging Markets Index over time we believe it provides an excellent building block for investors to fu-ture-proof their portfolio using one single sharerdquo
About China Europe International Ex-change AG (CEINEX)
Based in FrankfurtMain Germany CEINEX is a joint venture established by the Shanghai Stock Exchange the Deutsche Boumlrse Group and the China Financial Futures Exchange As the first marketplace for RMB-related and China-related investment products in the Chinese offshore market it acts as a unique bridge between the Chinese and international financial markets CEINEX is dedicated to providing re-liable offshore RMB- and China-relat-ed financial instruments to investors so as to promote RMB international-izationAbout HSBC Global Asset Manage-mentHSBC Global Asset Management should be referred to in full at all times to avoid confusion with any oth-er financial services firms
HSBC Global Asset Management the investment management business of the HSBC Group invests on behalf of HSBCrsquos worldwide customer base of retail and private clients interme-diaries corporates and institutions
through both segregated accounts and pooled funds HSBC Global As-set Management connects HSBCrsquos clients with investment opportunities around the world through an interna-tional network of offices in around 26 countries delivering global capa-bilities with local market insight As at 30 June 2018 HSBC Global Asset Management managed assets totalling US$463bn on behalf of its clients For more information see wwwglobalas-setmanagementhsbccom
HSBC Global Asset Management is the marketing name for the asset man-agement businesses of HSBC Hold-ings plcAbout HSBC Holdings plc
HSBC Holdings plc the parent com-pany of the HSBC Group is head-quartered in London The Group serves customers worldwide from around 3800 offices in 66 countries and territories in Europe Asia North and Latin America and the Middle East and North Africa With assets of US$2607bn at 30 June 2018 HSBC is one of the worldrsquos largest banking and financial services organisations
ISSUE 07CHINA OVERVIEW
35
MORE ENABLING BUSI-NESS ENVIRONMENT TO BE CREATED Source govcn October 22 2018The government will do more to re-solve the concerns of businesses identified during State Council in-spection tours ensure full delivery of all pro-business policies and build a national Internet Plus regulation sys-tem to make government regulation smarter more standardized and better targeted the State Council decided during an executive meeting chaired by Premier Li Keqiang on Oct 22
The government places high impor-tance on improving the business envi-ronment President Xi Jinping stressed the need to improve the investment and market environment cut the cost of market operations and foster a sta-ble fair transparent and predictable business environment Premier Li pointed out that it is critical to deepen
the reform of government functions for notable improvement in the busi-ness environment to improve market exceptions and boost market confi-dence More
CHINA MOVES TO BOOST INVESTOR CONFIDENCE STOCK MARKET RALLIESSource Xinhua October 22 2018BEIJING mdash Chinese stocks surged on Oct 22 after policy makers moved to boost confidence in the stock mar-ket and pledged to enact measures to ensure its healthy development
Extending the rebound on Oct 19 the benchmark Shanghai Composite In-dex on Oct 22 rallied 409 percent to 265488 the largest daily increase in 31 months
This came after concerted efforts by heavyweight economic officials to
ease domestic investor concerns about the national economy and the ldquoab-normal fluctuationsrdquo on the financial markets
Vice-Premier Liu He told reporters on Oct 19 that many factors had caused obvious stock fluctuations and de-clines in China recently including in-terest rate hikes by the central banks of major economies and Sino-US trade frictions More
CHINESE PREMIER AR-RIVES IN TAJIKISTAN FOR SCO MEETING OFFICIAL VISIT Source Xinhua October 11 2018DUSHANBE Oct 11 (Xinhua) -- Chinese Premier Li Keqiang arrived here on Thursday for an annual meet-ing of heads of government of the Shanghai Cooperation Organization (SCO) member states and an official visit to Tajikistan
At the 17th meeting of the Council of Heads of Government of the SCO member states Li will discuss with other leaders issues such as deepen-ing joint efforts to build the Belt and Road and strengthening cooperation in such fields as trade connectivity and people-to-people exchanges to advance SCO practical cooperation in
all areas
Li will also call for jointly oppos-ing unilateralism and protectionism building an open world economy and developing a community with a shared future for the SCO according to a Chinese Foreign Ministry press briefing before Li took the trip
The meeting is expected to release a joint statement speaking with one voice on major international and re-gional issues Cooperation documents are also expected to be signed
The SCO was established in 2001 by China Kazakhstan Kyrgyzstan Rus-sia Tajikistan and Uzbekistan India and Pakistan joined as full members in 2017
It is also Lis first visit to Tajikistan
On the official visit he is expected to discuss with Tajik leaders on de-velopment of bilateral ties under new circumstances cooperation under the Belt and Road Initiative as well as important international and regional issues Documents on trade customs and local cooperation are expected to be signed
ISSUE 07CHINA OVERVIEW
45
EUROPE ASIA LEAD THE WAY TO THE FACTORIES OF THE FUTURE Source WEF Sept 7 2018Tianjin Peoplersquos Republic of China 7 September 2018 ndash Concluding a year-long study the World Economic Fo-rum today announces nine of the most advanced factories in the world rec-ognizing the strides that the worldrsquos best manufacturers are making to-wards embedding the technologies of the Fourth Industrial Revolution into modern production
The geographic distribution of the nine ldquolighthousesrdquo demonstrates that while Europe has struggled to pro-duce its own home-grown internet giant the region remains a power-house when it comes to applying ad-vanced technology to manufacturing Five of the ldquolighthousesrdquo are located in Europe three in China and one in the United States They were selected from an initial list of some 1000 man-
ufacturing companies based on their successful implementation of Fourth Industrial Revolution technologies in ways that have driven financial and operational impact More
CHINA PLANS TO GRANT FOREIGN ACCESS TO PTA FUTURES TRADINGSource CGTN Sept 16 2018Chinas securities regulator plans to move forward the legislative work of the futures law and PTA will become the third commodity China will open to overseas investors following crude
oil in March and iron ore in May a senior official said on Saturday
Purified terephthalic acid (PTA) a chemical compound is a precursor to make clothing and plastic bottles Over 90 percent of global PTA pro-duction is used in producing polyeth-ylene terephthalate or PET
China will accelerate the opening-up of the countrys futures market and internationalize all the mature futures contracts in an effort to boost its pric-ing clout said Fang Xinghai vice chairman of the China Securities Reg-ulatory Commission (CSRC) More
FUELING RMB INTERNA-TIONALIZATION Source CGTN Sept 12 2018Shanghai is getting into the oil fu-tures gameTo keep China moving requires high energy mainly from oil If supply cant meet demand the economy could stall With its own reserves dwindling China has to rely heavily on imports steering it into competi-tion with others As China wants to break the energy shortage bottleneck seeking alternative sources becomes a strategic choice And that prompted the establishment of Chinas oil fu-tures contract early this year
The international oil price and secu-rity situation will cause fluctuations in the crude oil supply More
EUROPE CHINA SET OFF RampD WAVE OF NEW ENER-GY VEHICLESSource Xinhua Oct 10 2018BERLIN Oct 10 (Xinhua) -- Porsche recently announced that it will no lon-ger offer diesel engines for its cars in the future becoming the first German carmaker to give up the compres-sion-ignition engines amid the ongo-ing dieselgate in Germany
German Transport Minister Andreas Scheuer has warned that there would be no future for diesel vehicles unless automakers showcased their willing-ness to ensure its sustained viabili-ty as a clean and efficient propulsion technology The European Parliament has set new ambitious targets of less emissions
German automakers including BMW have already done much in the re-search and development of new en-ergy vehicles Joining hands with Chinese companies like BYD Star Charge and Camel Group Ltd a wave of new energy vehicles in Europe is under wayABANDONING DIESELFor us as a sports car manufacturer where diesel has traditionally played a subordinate role we have come to the conclusion that we want to get along without diesel in the future Oliver Blume chairman of the executive board of Porsche AG told the press
The Stuttgart-based company an-nounced the decision following simi-lar decisions by Volvo and Toyota More
ISSUE 07SHAREHOLDERS NEWS
DisclaimerNeither China Europe International Exchange AG (CEINEX) nor its servants nor agents is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice Any information herein is not intended for solicitation purposes but only for the use of general information CEINEX offers trading products listed on Xetra and Eurex markets CEINEX itself is not the licensee of neither a securities nor a derivatives exchange license and does not conduct any licensed activity in organizing trading of exchange traded financial products or other Those wishing to trade in any products available on the Xetra and Eurex markets or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so Ceinexreg and Ceinexchangereg are registered trademarks of China Europe International Exchange AG Xetrareg FWBreg and Eurexreg are registered trademarks of Deutsche Boumlrse AG
ContactChina Europe International Exchange AGPhone +49 (0) 69 2474 159 42Email newsletterceinexcomAddress Tower 185 26F Friedrich-Ebert-Anlage 35ndash37 60327 Frankfurt am Main GermanyWebsite wwwceinexcom
55
SSE EURONEXT MOU SIGNING CEREMONY HELDSource SSE Oct 16 2018On October 16 2018 the Shanghai Stock Exchange (SSE) and Euronext successfully held the MOU Signing Ceremony between SSE and Eu-ronext and also the Pan-European Market Promotion Campaign at the SSE trading floor SSE Chairman Huang Hongyuan and Euronext CEO Stephane Boujnah signed the mem-orandum on behalf of the two sides
marking an important step to further deepen the cooperative relationship and promote the exchange of the capital markets between the two re-gions Making remarks at the event were Boujnah SSE Vice President Liu Shaotong and Axel Cruau Con-sul General of the French Consulate General in Shanghai Also attending and witnessing the event were David Karmouni Regional Financial Coun-selor of the Department of Economic Affairs at the French Embassy in Chi-na and nearly 30 representatives of the financial institutions from home and abroad
One of the highlights of the memo-randum signed by the two exchanges is that both sides will jointly promote the development of the CAC40 ETF products which will help to enrich the supply of cross-border ETF prod-ucts on the SSE and further expand
and deepen the cooperation between the two exchanges
Liu said in his speech that Euronext is Europes leading all-round exchange and its products and business scope cover the major markets in the world The launch of the ETF products de-veloped on the basis of the Euronext flagship index CAC40 on the SSE will be conducive to the establish-ment of closer cooperation between the two exchanges while facilitating the formation of a diversified product system on the SSE and promoting the opening up of Chinas capital market
Boujnah said that Euronext has been active in exploring the Chinese mar-ket and the signing of the memoran-dum with the SSE will further expand the business of Euronext in China while deepening the partnership of the two exchanges More
COMPREHENSIVE OVER-HAUL FOR DAX INDEX FAMILYSource Deutsche Boumlrse Sept 21 2018This year Deutsche Boumlrse have re-vised some of their oldest and most established benchmark indices MDAXreg SDAXreg and TecDAXreg our indices for German mid-sized and small companies and technology shares have been part of the DAXreg family since 1996 1999 and 2003 respectively They have grown to be-come measures of reference and un-derlying for investors and issuers in Germany Europe and beyond
On 24 September this year Deutsche Boumlrse will modify the composition of MDAX SDAX and TecDAX to bet-ter reflect their representation of the
underlying markets and align their methodologies with international standards More
CFEXX AND SAIF JOINT-LY HELD THEldquoDEVEL-OPMENT AND OUTLOOK OF CHINA FUTURE EX-CHANGE MARKET FO-RUMrdquoSource CFFEX Sept 8 2018On September 8th China Financial
Futures Exchange (CFEXX) and Shanghai Advanced Institute of Fi-nance (SAIF) jointly held the ldquoDevel-opment and Outlook of China Future Exchange Market Forumrdquo To pro-mote the sound developing of Chinese future market CFEXX and SAIF have successfully held 10 rounds of finan-cial derivative management cours-es accumulatively trained about 700 middle and senior managers from 479 institutes achieving good results in promoting products serving insti-tutes cultivating talents facilitating communications and etc
ISSUE 07CEINEX NEWS
25
NEW ETF ON CEINEX BY HSBC GLOBAL ASSET MANAGEMENT TRACKS THE INCLUSION OF CHI-NA A-SHARES INTO MSCI INDEX FAMILY Source Ceinex October 16 2018FrankfurtMain Germany October 16 2018 ndash China Europe Interna-tional Exchange AG (CEINEX) wel-comes the launch of the HSBC MSCI China A Inclusion UCITS ETF ndash the first of its kind to track the inclusion of domestic Chinese A-Shares in MSCI global benchmarks through the Stock Connect ndash on its marketplace in Frankfurt which is a part of the reg-ulated market of the Frankfurt Stock Exchange
The new HSBC ETF allows investors to easily allocate to Chinarsquos mainland markets via China A-Shares as their part in global portfolios increases
ETF Name HSBC MSCI China A Inclusion UCITS ETFAsset Class Equity Index ETFISIN DE000A2N5QJ3Total Expense Ratio 060 paDistribution Policy distributingCurrency EURReference Index MSCI China A Inclusion Index Net Total Return (M1CNA Index)
CHEN Zhiyong Executive Board Member Product Development CEINEX said ldquoThe inclusion of Chi-na A-Shares in global benchmarks is a significant recognition of how open Chinarsquos stock markets have become We are very pleased to have one of the leading international financial institutions ndash HSBC Global Asset Management ndash onboard to provide this innovative ETF for global inves-tors to track the inclusion of China A-Sharesrdquo
Joseph Molloy Head of Index and Systematic Equity Portfolio Manage-ment HSBC Global Asset Manage-ment commented ldquoThe HSBC MSCI China A inclusion UCITS ETF gives foreign investors quick and easy ac-cess to mainland Chinese equities through China A shares which were traditionally only available to main-land citizens As the ETF is designed to track the progressive partial inclu-sion of China A shares in the MSCI Emerging Markets Index over time we believe it provides an excellent building block for investors to fu-ture-proof their portfolio using one single sharerdquo
About China Europe International Ex-change AG (CEINEX)
Based in FrankfurtMain Germany CEINEX is a joint venture established by the Shanghai Stock Exchange the Deutsche Boumlrse Group and the China Financial Futures Exchange As the first marketplace for RMB-related and China-related investment products in the Chinese offshore market it acts as a unique bridge between the Chinese and international financial markets CEINEX is dedicated to providing re-liable offshore RMB- and China-relat-ed financial instruments to investors so as to promote RMB international-izationAbout HSBC Global Asset Manage-mentHSBC Global Asset Management should be referred to in full at all times to avoid confusion with any oth-er financial services firms
HSBC Global Asset Management the investment management business of the HSBC Group invests on behalf of HSBCrsquos worldwide customer base of retail and private clients interme-diaries corporates and institutions
through both segregated accounts and pooled funds HSBC Global As-set Management connects HSBCrsquos clients with investment opportunities around the world through an interna-tional network of offices in around 26 countries delivering global capa-bilities with local market insight As at 30 June 2018 HSBC Global Asset Management managed assets totalling US$463bn on behalf of its clients For more information see wwwglobalas-setmanagementhsbccom
HSBC Global Asset Management is the marketing name for the asset man-agement businesses of HSBC Hold-ings plcAbout HSBC Holdings plc
HSBC Holdings plc the parent com-pany of the HSBC Group is head-quartered in London The Group serves customers worldwide from around 3800 offices in 66 countries and territories in Europe Asia North and Latin America and the Middle East and North Africa With assets of US$2607bn at 30 June 2018 HSBC is one of the worldrsquos largest banking and financial services organisations
ISSUE 07CHINA OVERVIEW
35
MORE ENABLING BUSI-NESS ENVIRONMENT TO BE CREATED Source govcn October 22 2018The government will do more to re-solve the concerns of businesses identified during State Council in-spection tours ensure full delivery of all pro-business policies and build a national Internet Plus regulation sys-tem to make government regulation smarter more standardized and better targeted the State Council decided during an executive meeting chaired by Premier Li Keqiang on Oct 22
The government places high impor-tance on improving the business envi-ronment President Xi Jinping stressed the need to improve the investment and market environment cut the cost of market operations and foster a sta-ble fair transparent and predictable business environment Premier Li pointed out that it is critical to deepen
the reform of government functions for notable improvement in the busi-ness environment to improve market exceptions and boost market confi-dence More
CHINA MOVES TO BOOST INVESTOR CONFIDENCE STOCK MARKET RALLIESSource Xinhua October 22 2018BEIJING mdash Chinese stocks surged on Oct 22 after policy makers moved to boost confidence in the stock mar-ket and pledged to enact measures to ensure its healthy development
Extending the rebound on Oct 19 the benchmark Shanghai Composite In-dex on Oct 22 rallied 409 percent to 265488 the largest daily increase in 31 months
This came after concerted efforts by heavyweight economic officials to
ease domestic investor concerns about the national economy and the ldquoab-normal fluctuationsrdquo on the financial markets
Vice-Premier Liu He told reporters on Oct 19 that many factors had caused obvious stock fluctuations and de-clines in China recently including in-terest rate hikes by the central banks of major economies and Sino-US trade frictions More
CHINESE PREMIER AR-RIVES IN TAJIKISTAN FOR SCO MEETING OFFICIAL VISIT Source Xinhua October 11 2018DUSHANBE Oct 11 (Xinhua) -- Chinese Premier Li Keqiang arrived here on Thursday for an annual meet-ing of heads of government of the Shanghai Cooperation Organization (SCO) member states and an official visit to Tajikistan
At the 17th meeting of the Council of Heads of Government of the SCO member states Li will discuss with other leaders issues such as deepen-ing joint efforts to build the Belt and Road and strengthening cooperation in such fields as trade connectivity and people-to-people exchanges to advance SCO practical cooperation in
all areas
Li will also call for jointly oppos-ing unilateralism and protectionism building an open world economy and developing a community with a shared future for the SCO according to a Chinese Foreign Ministry press briefing before Li took the trip
The meeting is expected to release a joint statement speaking with one voice on major international and re-gional issues Cooperation documents are also expected to be signed
The SCO was established in 2001 by China Kazakhstan Kyrgyzstan Rus-sia Tajikistan and Uzbekistan India and Pakistan joined as full members in 2017
It is also Lis first visit to Tajikistan
On the official visit he is expected to discuss with Tajik leaders on de-velopment of bilateral ties under new circumstances cooperation under the Belt and Road Initiative as well as important international and regional issues Documents on trade customs and local cooperation are expected to be signed
ISSUE 07CHINA OVERVIEW
45
EUROPE ASIA LEAD THE WAY TO THE FACTORIES OF THE FUTURE Source WEF Sept 7 2018Tianjin Peoplersquos Republic of China 7 September 2018 ndash Concluding a year-long study the World Economic Fo-rum today announces nine of the most advanced factories in the world rec-ognizing the strides that the worldrsquos best manufacturers are making to-wards embedding the technologies of the Fourth Industrial Revolution into modern production
The geographic distribution of the nine ldquolighthousesrdquo demonstrates that while Europe has struggled to pro-duce its own home-grown internet giant the region remains a power-house when it comes to applying ad-vanced technology to manufacturing Five of the ldquolighthousesrdquo are located in Europe three in China and one in the United States They were selected from an initial list of some 1000 man-
ufacturing companies based on their successful implementation of Fourth Industrial Revolution technologies in ways that have driven financial and operational impact More
CHINA PLANS TO GRANT FOREIGN ACCESS TO PTA FUTURES TRADINGSource CGTN Sept 16 2018Chinas securities regulator plans to move forward the legislative work of the futures law and PTA will become the third commodity China will open to overseas investors following crude
oil in March and iron ore in May a senior official said on Saturday
Purified terephthalic acid (PTA) a chemical compound is a precursor to make clothing and plastic bottles Over 90 percent of global PTA pro-duction is used in producing polyeth-ylene terephthalate or PET
China will accelerate the opening-up of the countrys futures market and internationalize all the mature futures contracts in an effort to boost its pric-ing clout said Fang Xinghai vice chairman of the China Securities Reg-ulatory Commission (CSRC) More
FUELING RMB INTERNA-TIONALIZATION Source CGTN Sept 12 2018Shanghai is getting into the oil fu-tures gameTo keep China moving requires high energy mainly from oil If supply cant meet demand the economy could stall With its own reserves dwindling China has to rely heavily on imports steering it into competi-tion with others As China wants to break the energy shortage bottleneck seeking alternative sources becomes a strategic choice And that prompted the establishment of Chinas oil fu-tures contract early this year
The international oil price and secu-rity situation will cause fluctuations in the crude oil supply More
EUROPE CHINA SET OFF RampD WAVE OF NEW ENER-GY VEHICLESSource Xinhua Oct 10 2018BERLIN Oct 10 (Xinhua) -- Porsche recently announced that it will no lon-ger offer diesel engines for its cars in the future becoming the first German carmaker to give up the compres-sion-ignition engines amid the ongo-ing dieselgate in Germany
German Transport Minister Andreas Scheuer has warned that there would be no future for diesel vehicles unless automakers showcased their willing-ness to ensure its sustained viabili-ty as a clean and efficient propulsion technology The European Parliament has set new ambitious targets of less emissions
German automakers including BMW have already done much in the re-search and development of new en-ergy vehicles Joining hands with Chinese companies like BYD Star Charge and Camel Group Ltd a wave of new energy vehicles in Europe is under wayABANDONING DIESELFor us as a sports car manufacturer where diesel has traditionally played a subordinate role we have come to the conclusion that we want to get along without diesel in the future Oliver Blume chairman of the executive board of Porsche AG told the press
The Stuttgart-based company an-nounced the decision following simi-lar decisions by Volvo and Toyota More
ISSUE 07SHAREHOLDERS NEWS
DisclaimerNeither China Europe International Exchange AG (CEINEX) nor its servants nor agents is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice Any information herein is not intended for solicitation purposes but only for the use of general information CEINEX offers trading products listed on Xetra and Eurex markets CEINEX itself is not the licensee of neither a securities nor a derivatives exchange license and does not conduct any licensed activity in organizing trading of exchange traded financial products or other Those wishing to trade in any products available on the Xetra and Eurex markets or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so Ceinexreg and Ceinexchangereg are registered trademarks of China Europe International Exchange AG Xetrareg FWBreg and Eurexreg are registered trademarks of Deutsche Boumlrse AG
ContactChina Europe International Exchange AGPhone +49 (0) 69 2474 159 42Email newsletterceinexcomAddress Tower 185 26F Friedrich-Ebert-Anlage 35ndash37 60327 Frankfurt am Main GermanyWebsite wwwceinexcom
55
SSE EURONEXT MOU SIGNING CEREMONY HELDSource SSE Oct 16 2018On October 16 2018 the Shanghai Stock Exchange (SSE) and Euronext successfully held the MOU Signing Ceremony between SSE and Eu-ronext and also the Pan-European Market Promotion Campaign at the SSE trading floor SSE Chairman Huang Hongyuan and Euronext CEO Stephane Boujnah signed the mem-orandum on behalf of the two sides
marking an important step to further deepen the cooperative relationship and promote the exchange of the capital markets between the two re-gions Making remarks at the event were Boujnah SSE Vice President Liu Shaotong and Axel Cruau Con-sul General of the French Consulate General in Shanghai Also attending and witnessing the event were David Karmouni Regional Financial Coun-selor of the Department of Economic Affairs at the French Embassy in Chi-na and nearly 30 representatives of the financial institutions from home and abroad
One of the highlights of the memo-randum signed by the two exchanges is that both sides will jointly promote the development of the CAC40 ETF products which will help to enrich the supply of cross-border ETF prod-ucts on the SSE and further expand
and deepen the cooperation between the two exchanges
Liu said in his speech that Euronext is Europes leading all-round exchange and its products and business scope cover the major markets in the world The launch of the ETF products de-veloped on the basis of the Euronext flagship index CAC40 on the SSE will be conducive to the establish-ment of closer cooperation between the two exchanges while facilitating the formation of a diversified product system on the SSE and promoting the opening up of Chinas capital market
Boujnah said that Euronext has been active in exploring the Chinese mar-ket and the signing of the memoran-dum with the SSE will further expand the business of Euronext in China while deepening the partnership of the two exchanges More
COMPREHENSIVE OVER-HAUL FOR DAX INDEX FAMILYSource Deutsche Boumlrse Sept 21 2018This year Deutsche Boumlrse have re-vised some of their oldest and most established benchmark indices MDAXreg SDAXreg and TecDAXreg our indices for German mid-sized and small companies and technology shares have been part of the DAXreg family since 1996 1999 and 2003 respectively They have grown to be-come measures of reference and un-derlying for investors and issuers in Germany Europe and beyond
On 24 September this year Deutsche Boumlrse will modify the composition of MDAX SDAX and TecDAX to bet-ter reflect their representation of the
underlying markets and align their methodologies with international standards More
CFEXX AND SAIF JOINT-LY HELD THEldquoDEVEL-OPMENT AND OUTLOOK OF CHINA FUTURE EX-CHANGE MARKET FO-RUMrdquoSource CFFEX Sept 8 2018On September 8th China Financial
Futures Exchange (CFEXX) and Shanghai Advanced Institute of Fi-nance (SAIF) jointly held the ldquoDevel-opment and Outlook of China Future Exchange Market Forumrdquo To pro-mote the sound developing of Chinese future market CFEXX and SAIF have successfully held 10 rounds of finan-cial derivative management cours-es accumulatively trained about 700 middle and senior managers from 479 institutes achieving good results in promoting products serving insti-tutes cultivating talents facilitating communications and etc
ISSUE 07CHINA OVERVIEW
35
MORE ENABLING BUSI-NESS ENVIRONMENT TO BE CREATED Source govcn October 22 2018The government will do more to re-solve the concerns of businesses identified during State Council in-spection tours ensure full delivery of all pro-business policies and build a national Internet Plus regulation sys-tem to make government regulation smarter more standardized and better targeted the State Council decided during an executive meeting chaired by Premier Li Keqiang on Oct 22
The government places high impor-tance on improving the business envi-ronment President Xi Jinping stressed the need to improve the investment and market environment cut the cost of market operations and foster a sta-ble fair transparent and predictable business environment Premier Li pointed out that it is critical to deepen
the reform of government functions for notable improvement in the busi-ness environment to improve market exceptions and boost market confi-dence More
CHINA MOVES TO BOOST INVESTOR CONFIDENCE STOCK MARKET RALLIESSource Xinhua October 22 2018BEIJING mdash Chinese stocks surged on Oct 22 after policy makers moved to boost confidence in the stock mar-ket and pledged to enact measures to ensure its healthy development
Extending the rebound on Oct 19 the benchmark Shanghai Composite In-dex on Oct 22 rallied 409 percent to 265488 the largest daily increase in 31 months
This came after concerted efforts by heavyweight economic officials to
ease domestic investor concerns about the national economy and the ldquoab-normal fluctuationsrdquo on the financial markets
Vice-Premier Liu He told reporters on Oct 19 that many factors had caused obvious stock fluctuations and de-clines in China recently including in-terest rate hikes by the central banks of major economies and Sino-US trade frictions More
CHINESE PREMIER AR-RIVES IN TAJIKISTAN FOR SCO MEETING OFFICIAL VISIT Source Xinhua October 11 2018DUSHANBE Oct 11 (Xinhua) -- Chinese Premier Li Keqiang arrived here on Thursday for an annual meet-ing of heads of government of the Shanghai Cooperation Organization (SCO) member states and an official visit to Tajikistan
At the 17th meeting of the Council of Heads of Government of the SCO member states Li will discuss with other leaders issues such as deepen-ing joint efforts to build the Belt and Road and strengthening cooperation in such fields as trade connectivity and people-to-people exchanges to advance SCO practical cooperation in
all areas
Li will also call for jointly oppos-ing unilateralism and protectionism building an open world economy and developing a community with a shared future for the SCO according to a Chinese Foreign Ministry press briefing before Li took the trip
The meeting is expected to release a joint statement speaking with one voice on major international and re-gional issues Cooperation documents are also expected to be signed
The SCO was established in 2001 by China Kazakhstan Kyrgyzstan Rus-sia Tajikistan and Uzbekistan India and Pakistan joined as full members in 2017
It is also Lis first visit to Tajikistan
On the official visit he is expected to discuss with Tajik leaders on de-velopment of bilateral ties under new circumstances cooperation under the Belt and Road Initiative as well as important international and regional issues Documents on trade customs and local cooperation are expected to be signed
ISSUE 07CHINA OVERVIEW
45
EUROPE ASIA LEAD THE WAY TO THE FACTORIES OF THE FUTURE Source WEF Sept 7 2018Tianjin Peoplersquos Republic of China 7 September 2018 ndash Concluding a year-long study the World Economic Fo-rum today announces nine of the most advanced factories in the world rec-ognizing the strides that the worldrsquos best manufacturers are making to-wards embedding the technologies of the Fourth Industrial Revolution into modern production
The geographic distribution of the nine ldquolighthousesrdquo demonstrates that while Europe has struggled to pro-duce its own home-grown internet giant the region remains a power-house when it comes to applying ad-vanced technology to manufacturing Five of the ldquolighthousesrdquo are located in Europe three in China and one in the United States They were selected from an initial list of some 1000 man-
ufacturing companies based on their successful implementation of Fourth Industrial Revolution technologies in ways that have driven financial and operational impact More
CHINA PLANS TO GRANT FOREIGN ACCESS TO PTA FUTURES TRADINGSource CGTN Sept 16 2018Chinas securities regulator plans to move forward the legislative work of the futures law and PTA will become the third commodity China will open to overseas investors following crude
oil in March and iron ore in May a senior official said on Saturday
Purified terephthalic acid (PTA) a chemical compound is a precursor to make clothing and plastic bottles Over 90 percent of global PTA pro-duction is used in producing polyeth-ylene terephthalate or PET
China will accelerate the opening-up of the countrys futures market and internationalize all the mature futures contracts in an effort to boost its pric-ing clout said Fang Xinghai vice chairman of the China Securities Reg-ulatory Commission (CSRC) More
FUELING RMB INTERNA-TIONALIZATION Source CGTN Sept 12 2018Shanghai is getting into the oil fu-tures gameTo keep China moving requires high energy mainly from oil If supply cant meet demand the economy could stall With its own reserves dwindling China has to rely heavily on imports steering it into competi-tion with others As China wants to break the energy shortage bottleneck seeking alternative sources becomes a strategic choice And that prompted the establishment of Chinas oil fu-tures contract early this year
The international oil price and secu-rity situation will cause fluctuations in the crude oil supply More
EUROPE CHINA SET OFF RampD WAVE OF NEW ENER-GY VEHICLESSource Xinhua Oct 10 2018BERLIN Oct 10 (Xinhua) -- Porsche recently announced that it will no lon-ger offer diesel engines for its cars in the future becoming the first German carmaker to give up the compres-sion-ignition engines amid the ongo-ing dieselgate in Germany
German Transport Minister Andreas Scheuer has warned that there would be no future for diesel vehicles unless automakers showcased their willing-ness to ensure its sustained viabili-ty as a clean and efficient propulsion technology The European Parliament has set new ambitious targets of less emissions
German automakers including BMW have already done much in the re-search and development of new en-ergy vehicles Joining hands with Chinese companies like BYD Star Charge and Camel Group Ltd a wave of new energy vehicles in Europe is under wayABANDONING DIESELFor us as a sports car manufacturer where diesel has traditionally played a subordinate role we have come to the conclusion that we want to get along without diesel in the future Oliver Blume chairman of the executive board of Porsche AG told the press
The Stuttgart-based company an-nounced the decision following simi-lar decisions by Volvo and Toyota More
ISSUE 07SHAREHOLDERS NEWS
DisclaimerNeither China Europe International Exchange AG (CEINEX) nor its servants nor agents is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice Any information herein is not intended for solicitation purposes but only for the use of general information CEINEX offers trading products listed on Xetra and Eurex markets CEINEX itself is not the licensee of neither a securities nor a derivatives exchange license and does not conduct any licensed activity in organizing trading of exchange traded financial products or other Those wishing to trade in any products available on the Xetra and Eurex markets or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so Ceinexreg and Ceinexchangereg are registered trademarks of China Europe International Exchange AG Xetrareg FWBreg and Eurexreg are registered trademarks of Deutsche Boumlrse AG
ContactChina Europe International Exchange AGPhone +49 (0) 69 2474 159 42Email newsletterceinexcomAddress Tower 185 26F Friedrich-Ebert-Anlage 35ndash37 60327 Frankfurt am Main GermanyWebsite wwwceinexcom
55
SSE EURONEXT MOU SIGNING CEREMONY HELDSource SSE Oct 16 2018On October 16 2018 the Shanghai Stock Exchange (SSE) and Euronext successfully held the MOU Signing Ceremony between SSE and Eu-ronext and also the Pan-European Market Promotion Campaign at the SSE trading floor SSE Chairman Huang Hongyuan and Euronext CEO Stephane Boujnah signed the mem-orandum on behalf of the two sides
marking an important step to further deepen the cooperative relationship and promote the exchange of the capital markets between the two re-gions Making remarks at the event were Boujnah SSE Vice President Liu Shaotong and Axel Cruau Con-sul General of the French Consulate General in Shanghai Also attending and witnessing the event were David Karmouni Regional Financial Coun-selor of the Department of Economic Affairs at the French Embassy in Chi-na and nearly 30 representatives of the financial institutions from home and abroad
One of the highlights of the memo-randum signed by the two exchanges is that both sides will jointly promote the development of the CAC40 ETF products which will help to enrich the supply of cross-border ETF prod-ucts on the SSE and further expand
and deepen the cooperation between the two exchanges
Liu said in his speech that Euronext is Europes leading all-round exchange and its products and business scope cover the major markets in the world The launch of the ETF products de-veloped on the basis of the Euronext flagship index CAC40 on the SSE will be conducive to the establish-ment of closer cooperation between the two exchanges while facilitating the formation of a diversified product system on the SSE and promoting the opening up of Chinas capital market
Boujnah said that Euronext has been active in exploring the Chinese mar-ket and the signing of the memoran-dum with the SSE will further expand the business of Euronext in China while deepening the partnership of the two exchanges More
COMPREHENSIVE OVER-HAUL FOR DAX INDEX FAMILYSource Deutsche Boumlrse Sept 21 2018This year Deutsche Boumlrse have re-vised some of their oldest and most established benchmark indices MDAXreg SDAXreg and TecDAXreg our indices for German mid-sized and small companies and technology shares have been part of the DAXreg family since 1996 1999 and 2003 respectively They have grown to be-come measures of reference and un-derlying for investors and issuers in Germany Europe and beyond
On 24 September this year Deutsche Boumlrse will modify the composition of MDAX SDAX and TecDAX to bet-ter reflect their representation of the
underlying markets and align their methodologies with international standards More
CFEXX AND SAIF JOINT-LY HELD THEldquoDEVEL-OPMENT AND OUTLOOK OF CHINA FUTURE EX-CHANGE MARKET FO-RUMrdquoSource CFFEX Sept 8 2018On September 8th China Financial
Futures Exchange (CFEXX) and Shanghai Advanced Institute of Fi-nance (SAIF) jointly held the ldquoDevel-opment and Outlook of China Future Exchange Market Forumrdquo To pro-mote the sound developing of Chinese future market CFEXX and SAIF have successfully held 10 rounds of finan-cial derivative management cours-es accumulatively trained about 700 middle and senior managers from 479 institutes achieving good results in promoting products serving insti-tutes cultivating talents facilitating communications and etc
ISSUE 07CHINA OVERVIEW
45
EUROPE ASIA LEAD THE WAY TO THE FACTORIES OF THE FUTURE Source WEF Sept 7 2018Tianjin Peoplersquos Republic of China 7 September 2018 ndash Concluding a year-long study the World Economic Fo-rum today announces nine of the most advanced factories in the world rec-ognizing the strides that the worldrsquos best manufacturers are making to-wards embedding the technologies of the Fourth Industrial Revolution into modern production
The geographic distribution of the nine ldquolighthousesrdquo demonstrates that while Europe has struggled to pro-duce its own home-grown internet giant the region remains a power-house when it comes to applying ad-vanced technology to manufacturing Five of the ldquolighthousesrdquo are located in Europe three in China and one in the United States They were selected from an initial list of some 1000 man-
ufacturing companies based on their successful implementation of Fourth Industrial Revolution technologies in ways that have driven financial and operational impact More
CHINA PLANS TO GRANT FOREIGN ACCESS TO PTA FUTURES TRADINGSource CGTN Sept 16 2018Chinas securities regulator plans to move forward the legislative work of the futures law and PTA will become the third commodity China will open to overseas investors following crude
oil in March and iron ore in May a senior official said on Saturday
Purified terephthalic acid (PTA) a chemical compound is a precursor to make clothing and plastic bottles Over 90 percent of global PTA pro-duction is used in producing polyeth-ylene terephthalate or PET
China will accelerate the opening-up of the countrys futures market and internationalize all the mature futures contracts in an effort to boost its pric-ing clout said Fang Xinghai vice chairman of the China Securities Reg-ulatory Commission (CSRC) More
FUELING RMB INTERNA-TIONALIZATION Source CGTN Sept 12 2018Shanghai is getting into the oil fu-tures gameTo keep China moving requires high energy mainly from oil If supply cant meet demand the economy could stall With its own reserves dwindling China has to rely heavily on imports steering it into competi-tion with others As China wants to break the energy shortage bottleneck seeking alternative sources becomes a strategic choice And that prompted the establishment of Chinas oil fu-tures contract early this year
The international oil price and secu-rity situation will cause fluctuations in the crude oil supply More
EUROPE CHINA SET OFF RampD WAVE OF NEW ENER-GY VEHICLESSource Xinhua Oct 10 2018BERLIN Oct 10 (Xinhua) -- Porsche recently announced that it will no lon-ger offer diesel engines for its cars in the future becoming the first German carmaker to give up the compres-sion-ignition engines amid the ongo-ing dieselgate in Germany
German Transport Minister Andreas Scheuer has warned that there would be no future for diesel vehicles unless automakers showcased their willing-ness to ensure its sustained viabili-ty as a clean and efficient propulsion technology The European Parliament has set new ambitious targets of less emissions
German automakers including BMW have already done much in the re-search and development of new en-ergy vehicles Joining hands with Chinese companies like BYD Star Charge and Camel Group Ltd a wave of new energy vehicles in Europe is under wayABANDONING DIESELFor us as a sports car manufacturer where diesel has traditionally played a subordinate role we have come to the conclusion that we want to get along without diesel in the future Oliver Blume chairman of the executive board of Porsche AG told the press
The Stuttgart-based company an-nounced the decision following simi-lar decisions by Volvo and Toyota More
ISSUE 07SHAREHOLDERS NEWS
DisclaimerNeither China Europe International Exchange AG (CEINEX) nor its servants nor agents is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice Any information herein is not intended for solicitation purposes but only for the use of general information CEINEX offers trading products listed on Xetra and Eurex markets CEINEX itself is not the licensee of neither a securities nor a derivatives exchange license and does not conduct any licensed activity in organizing trading of exchange traded financial products or other Those wishing to trade in any products available on the Xetra and Eurex markets or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so Ceinexreg and Ceinexchangereg are registered trademarks of China Europe International Exchange AG Xetrareg FWBreg and Eurexreg are registered trademarks of Deutsche Boumlrse AG
ContactChina Europe International Exchange AGPhone +49 (0) 69 2474 159 42Email newsletterceinexcomAddress Tower 185 26F Friedrich-Ebert-Anlage 35ndash37 60327 Frankfurt am Main GermanyWebsite wwwceinexcom
55
SSE EURONEXT MOU SIGNING CEREMONY HELDSource SSE Oct 16 2018On October 16 2018 the Shanghai Stock Exchange (SSE) and Euronext successfully held the MOU Signing Ceremony between SSE and Eu-ronext and also the Pan-European Market Promotion Campaign at the SSE trading floor SSE Chairman Huang Hongyuan and Euronext CEO Stephane Boujnah signed the mem-orandum on behalf of the two sides
marking an important step to further deepen the cooperative relationship and promote the exchange of the capital markets between the two re-gions Making remarks at the event were Boujnah SSE Vice President Liu Shaotong and Axel Cruau Con-sul General of the French Consulate General in Shanghai Also attending and witnessing the event were David Karmouni Regional Financial Coun-selor of the Department of Economic Affairs at the French Embassy in Chi-na and nearly 30 representatives of the financial institutions from home and abroad
One of the highlights of the memo-randum signed by the two exchanges is that both sides will jointly promote the development of the CAC40 ETF products which will help to enrich the supply of cross-border ETF prod-ucts on the SSE and further expand
and deepen the cooperation between the two exchanges
Liu said in his speech that Euronext is Europes leading all-round exchange and its products and business scope cover the major markets in the world The launch of the ETF products de-veloped on the basis of the Euronext flagship index CAC40 on the SSE will be conducive to the establish-ment of closer cooperation between the two exchanges while facilitating the formation of a diversified product system on the SSE and promoting the opening up of Chinas capital market
Boujnah said that Euronext has been active in exploring the Chinese mar-ket and the signing of the memoran-dum with the SSE will further expand the business of Euronext in China while deepening the partnership of the two exchanges More
COMPREHENSIVE OVER-HAUL FOR DAX INDEX FAMILYSource Deutsche Boumlrse Sept 21 2018This year Deutsche Boumlrse have re-vised some of their oldest and most established benchmark indices MDAXreg SDAXreg and TecDAXreg our indices for German mid-sized and small companies and technology shares have been part of the DAXreg family since 1996 1999 and 2003 respectively They have grown to be-come measures of reference and un-derlying for investors and issuers in Germany Europe and beyond
On 24 September this year Deutsche Boumlrse will modify the composition of MDAX SDAX and TecDAX to bet-ter reflect their representation of the
underlying markets and align their methodologies with international standards More
CFEXX AND SAIF JOINT-LY HELD THEldquoDEVEL-OPMENT AND OUTLOOK OF CHINA FUTURE EX-CHANGE MARKET FO-RUMrdquoSource CFFEX Sept 8 2018On September 8th China Financial
Futures Exchange (CFEXX) and Shanghai Advanced Institute of Fi-nance (SAIF) jointly held the ldquoDevel-opment and Outlook of China Future Exchange Market Forumrdquo To pro-mote the sound developing of Chinese future market CFEXX and SAIF have successfully held 10 rounds of finan-cial derivative management cours-es accumulatively trained about 700 middle and senior managers from 479 institutes achieving good results in promoting products serving insti-tutes cultivating talents facilitating communications and etc
ISSUE 07SHAREHOLDERS NEWS
DisclaimerNeither China Europe International Exchange AG (CEINEX) nor its servants nor agents is responsible for any errors or omissions contained in this publication which is published for information only and shall not constitute an investment advice Any information herein is not intended for solicitation purposes but only for the use of general information CEINEX offers trading products listed on Xetra and Eurex markets CEINEX itself is not the licensee of neither a securities nor a derivatives exchange license and does not conduct any licensed activity in organizing trading of exchange traded financial products or other Those wishing to trade in any products available on the Xetra and Eurex markets or to offer and sell any such products to others should consider both their legal and regulatory position in the relevant jurisdiction and the risks associated with such products before doing so Ceinexreg and Ceinexchangereg are registered trademarks of China Europe International Exchange AG Xetrareg FWBreg and Eurexreg are registered trademarks of Deutsche Boumlrse AG
ContactChina Europe International Exchange AGPhone +49 (0) 69 2474 159 42Email newsletterceinexcomAddress Tower 185 26F Friedrich-Ebert-Anlage 35ndash37 60327 Frankfurt am Main GermanyWebsite wwwceinexcom
55
SSE EURONEXT MOU SIGNING CEREMONY HELDSource SSE Oct 16 2018On October 16 2018 the Shanghai Stock Exchange (SSE) and Euronext successfully held the MOU Signing Ceremony between SSE and Eu-ronext and also the Pan-European Market Promotion Campaign at the SSE trading floor SSE Chairman Huang Hongyuan and Euronext CEO Stephane Boujnah signed the mem-orandum on behalf of the two sides
marking an important step to further deepen the cooperative relationship and promote the exchange of the capital markets between the two re-gions Making remarks at the event were Boujnah SSE Vice President Liu Shaotong and Axel Cruau Con-sul General of the French Consulate General in Shanghai Also attending and witnessing the event were David Karmouni Regional Financial Coun-selor of the Department of Economic Affairs at the French Embassy in Chi-na and nearly 30 representatives of the financial institutions from home and abroad
One of the highlights of the memo-randum signed by the two exchanges is that both sides will jointly promote the development of the CAC40 ETF products which will help to enrich the supply of cross-border ETF prod-ucts on the SSE and further expand
and deepen the cooperation between the two exchanges
Liu said in his speech that Euronext is Europes leading all-round exchange and its products and business scope cover the major markets in the world The launch of the ETF products de-veloped on the basis of the Euronext flagship index CAC40 on the SSE will be conducive to the establish-ment of closer cooperation between the two exchanges while facilitating the formation of a diversified product system on the SSE and promoting the opening up of Chinas capital market
Boujnah said that Euronext has been active in exploring the Chinese mar-ket and the signing of the memoran-dum with the SSE will further expand the business of Euronext in China while deepening the partnership of the two exchanges More
COMPREHENSIVE OVER-HAUL FOR DAX INDEX FAMILYSource Deutsche Boumlrse Sept 21 2018This year Deutsche Boumlrse have re-vised some of their oldest and most established benchmark indices MDAXreg SDAXreg and TecDAXreg our indices for German mid-sized and small companies and technology shares have been part of the DAXreg family since 1996 1999 and 2003 respectively They have grown to be-come measures of reference and un-derlying for investors and issuers in Germany Europe and beyond
On 24 September this year Deutsche Boumlrse will modify the composition of MDAX SDAX and TecDAX to bet-ter reflect their representation of the
underlying markets and align their methodologies with international standards More
CFEXX AND SAIF JOINT-LY HELD THEldquoDEVEL-OPMENT AND OUTLOOK OF CHINA FUTURE EX-CHANGE MARKET FO-RUMrdquoSource CFFEX Sept 8 2018On September 8th China Financial
Futures Exchange (CFEXX) and Shanghai Advanced Institute of Fi-nance (SAIF) jointly held the ldquoDevel-opment and Outlook of China Future Exchange Market Forumrdquo To pro-mote the sound developing of Chinese future market CFEXX and SAIF have successfully held 10 rounds of finan-cial derivative management cours-es accumulatively trained about 700 middle and senior managers from 479 institutes achieving good results in promoting products serving insti-tutes cultivating talents facilitating communications and etc