ELITE, London Stock Exchange Group's international business support and capital raising programme, has has signed a Memorandum of Understanding (MoU) with Shenzhen Securities Information Company (SSIC), a wholly owned subsidiary of Shenzhen Stock Exchange (SZSE), to support the launch of ELITE in China through the creation of the ELITE V-Next Alliance.
The signing ceremony was held during the UK-China 9th Economic and Financial Dialogue and was presided by Rt Hon Philip Hammond MP, Chancellor of the Exchequer and Xinghai Fang, Vice Chairman of CSRC.
ELITE and SSIC will work together to implement ELITE in China. A locally anchored programme, as part of ELITE's global network, will support the Government's ambition to strengthen the environment for small and medium sized companies (SMEs) across the country and encourage greater international co-operation. The programme will support the growth of dynamic SMEs, helping them to innovate, create jobs and further drive economic growth.
The first cohort of Chinese companies is set to join the programme in 2018. They will eventually become part of the full international ELITE community of over 700 companies from across 27 countries and have access to more than 200 UK and international investors.