Markets

Brazil and China seek cooperation in stock market

(Xinhua)
Updated: 2011-02-23 10:36

RIO DE JANEIRO - Brazilian and Chinese stock market representatives participated on Tuesday in the first Brazil-China Capital Markets Forum, in Sao Paulo, to seek joint business opportunities in the sector.

In the forum, which was sponsored by the Sao Paulo and Shanghai Stock Exchanges, the representatives discussed the similarities and differences between the Brazilian and Chinese markets, as well as the market regulations in the two countries.

Related readings:  China stocks tumble 2.62% Tuesday  Shanghai exchange in pact with Brazil bourse  Nasdaq: The exchange no-one wants to team up with

"This forum aims at increasing the cooperation between the two countries and improving its economies' positions," said Zhang Yujun, president of the Shanghai Stock Exchange.

He said the Brazilian and Chinese economies complement each other, and the Chinese are interested in partnerships with Brazil.

The country is expected to receive a lot of investments in the near future, not only from China, according to the president of Brazil's Development Bank, Luciano Coutinho, who also participated in the forum.

According to Coutinho, Brazil will receive $2 trillion in investments in the next four years, and the investment level in the country will reach 23 percent of its GDP.

"We have a firm perspective of investments in the future," he said.