Business

Vietnam, China intensify capital market cooperation

SGGP
The HCMC branch of Bank of China and China’s Shenzhen Stock Exchange (SZSE) hosted a conference to lure investment capital from China to Vietnam in HCMC yesterday.
 

Deputy Minister of Finance Tran Xuan Ha (L) receives Mr. Wu Lijiun, chairman of Shenzhen Stock Exchange (SZSE)

Deputy Minister of Finance Tran Xuan Ha (L) receives Mr. Wu Lijiun, chairman of Shenzhen Stock Exchange (SZSE)

At the conference, a representative of the Ministry of Planning and Investment of Vietnam said that the country has seen net inflow of foreign capital during the first 11 months of 2017, especially in November when foreign capital strongly flowed into capital withdrawals of state own groups and corporations.
The Vietnamese stock market has most grown in the Southeast Asian region, outstripping Thailand, Indonesia and the Philippines. The VN-Index has increased 45 percent compared to early this year and market capitalization has neared 70 percent of Gross Domestic Product.
Foreign sector holds 22.7 percent capitalization in HCMC and Hanoi stock exchanges. The number of businesses holding over 20 percent capitalization is about 150 out of the total of 700.


By HA DIU – Translated by Hai Mien

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