On the 22nd of July 2009, the Binhai International Equity Exchange (BIEX) and the Asia Pacific Exchange (APX) signed a Memorandum of Understanding (MOU) under which both parties agreed mutually beneficial terms of co-operation. This agreement is ancillary to, and works alongside the Strategic Alliance signed on the 15th of June 2009 with the Tianjin Government in China.
Under this strategic agreement, both parties have formed a collaborative relationship with the aim of a better understanding of each others markets and the development of a common strategy. Central to this agreement are a number of agreed principles, namely the following; mutual referral of clients, operational cooperation, agreement on personnel exchange for marketing purposes, and utilizing the competitive advantages of each other for both parties benefit.
Chairman of BIEX, Mr Wang Yang indicated that BIEX has a large number of enterprises with very sound growth potential and these enterprises have a strong interest in listing in overseas market. The cooperation between APX and BIEX will have a very vital significance for both parties on exchanging resources and capitals.
Managing Director of APX, Mr James Tong commented that the execution of this agreement with the Binhai International Equity Exchange clearly demonstrates APX's strong commitment to work with strategic partners in China (particularly in Tianjin), with a view of facilitating the funding and investment flows between the two countries.
Binhai International (TianJin) Equity Exchange specializes in trading enterprise private equity rights and investment information internationally. It is the first domestic information exchange specializing in these enterprises that intends on raising capital through the sale of equity rights. It is also a platform for supervising and providing a pool of high quality institutions to the Chinese economy.