Visiting and working with SSE, the Prime Minister and the delegation learned about the thinking, methodology, and approach to developing the stock market; consulted about the leadership, direction, mechanisms, policies, organization, operation, and practical activities of SSE to mobilize capital most effectively as well as experience related to developing the Shanghai international financial center.
Shanghai is one of the four municipalities directly under the Central Government of China, with an area of over 6,340 km2 and a population of about 24.8 million. The city has a favorable geographical location and convenient transportation, located in the Yangtze River Delta, in the center of China's coastal region, bordering the sea to the east.
Economically , Shanghai is the city with the highest level of openness in China, shouldering the responsibility of pioneering and leading the way in China's reform and opening up. In 2024, Shanghai's GDP will reach about 741 billion USD; GDP per capita will be about 30,486 USD; import and export will be more than 593 billion USD; there will be nearly 6,000 newly established FDI enterprises with FDI capital of about 17.6 billion USD.
The Shanghai Free Trade Pilot Zone (FTZ) is a successful testbed for new policies related to trade liberalization, attracting foreign investment (investors are allowed to invest in all sectors without licensing, except for prohibited and restricted sectors), modernizing the financial system, and shifting the government's role from licensing to supervision.
Vietnam is currently Shanghai's largest trading partner in ASEAN. In 2024, Vietnam-Shanghai trade turnover reached more than 18.4 billion USD, up 17.8% compared to 2023. Shanghai enterprises have invested in a total of 82 projects in Vietnam with a total investment capital of 453 million USD.
Established in 1990, SSE has a market capitalization of US$7.17 trillion as of December 2024 with more than 2,200 listed companies. SSE is affiliated and managed by the China Securities Regulatory Commission (CSRC), and is China's largest and most influential stock exchange.
SSE is also a major financial center in Asia as well as globally, currently the largest stock exchange in Asia, the 3rd largest in the world after the New York Stock Exchange and Nasdaq in the United States.
SSE aims to become an international stock exchange with global influence, promote high-quality development of the capital market, and support real economic transformation and innovation, digital transformation and high-tech development, supporting China's "Made in China 2025" strategy.
SSE representative said that they are ready to strengthen cooperation with Vietnam in the field of finance and securities, contributing to promoting economic, trade and investment cooperation in particular and bilateral relations between Vietnam and China in general.
After listening to the opinions exchanged, Prime Minister Pham Minh Chinh assessed that the Shanghai financial center is the focal point in China's dual circulation strategy (domestic circulation and international circulation).
Thanking the comments for clarifying many issues that Vietnam is concerned about, the Prime Minister said that Vietnam is currently striving to upgrade its market status from frontier to emerging this year, while developing international financial centers in Ho Chi Minh City and Da Nang.
The Prime Minister suggested that SSE continue to cooperate closely and effectively with Vietnam's stock exchanges, support the development of the stock market, Vietnam's international financial center, especially in exchanging experiences and training human resources; contribute to promoting the relationship between the two countries as "both comrades and brothers", the Comprehensive Strategic Cooperative Partnership, and the Vietnam-China Community of Shared Future which has strategic significance.
Prime Minister visits and learns about development experience of Pudong district (Shanghai)
On the afternoon of June 26, Prime Minister Pham Minh Chinh visited the Shanghai Pudong Development and Opening Exhibition Hall.
Prime Minister Pham Minh Chinh expressed his impression and appreciation for the strong development of Pudong and Shanghai in recent years, under the guidance of Chinese leaders of all periods; wished Shanghai to continue reform and opening up, achieving new and greater achievements.
Through the visit and study, the Prime Minister emphasized some important lessons learned from the development of Pudong and Shanghai: planning must be one step ahead; financial resources; human resource training; selecting core technology for development; improving the material and spiritual life of the people; new Chinese policies are piloted in Shanghai.
Earlier the same day, during a meeting with Shanghai Party Secretary Chen Jinning, the Prime Minister emphasized his desire to exchange and share experiences in a number of important issues, such as: State economic development; development of international financial centers, free trade zones; experience in development and management, and handling two issues facing big cities: environmental pollution and traffic.
Pudong is a district of Shanghai, opposite Puxi - the old part of Shanghai. Since its development in 1990, Pudong has rapidly emerged as China's financial and commercial center.
The Shanghai Pudong Development and Opening-up Exhibition Hall is located in the Pudong Exhibition Hall. In June 2021, it was named a National Patriotic Education Demonstration Base by the Central Propaganda Department of the Communist Party of China.
The naming coincides with the 100th anniversary of the founding of the Communist Party of China to highlight important events in the Party's 100-year history and achievements of the new era.
The exhibition hall uses images, artifacts, multimedia and other forms to vividly present the stories of dedication of Pudong entrepreneurs and the theme of "National Strategy, Pudong Practice".
It systematically and comprehensively presents the development process, major events and reform measures and achievements in Pudong's 30 years of development and opening up, including infrastructure construction, the establishment of the Shanghai Free Trade Zone and other landmark achievements.
According to VGP
Source: https://vietnamnet.vn/thu-tuong-tham-san-chung-khoan-lon-nhat-chau-a-2415399.html
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