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Elite, London Stock Exchange Group’s international business support and capital raising programme, announced that it 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 today in Beijing, China 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. The agreement was signed by Luca Peyrano, CEO, Elite and Wang Bing, CEO, SSIC.
As part of the agreement, Elite and SSIC are hosting a roadshow in Beijing and Shenzhen to showcase some of Elite’s exciting UK and international companies to the Chinese investor and business community. Companies joining the roadshow: video gaming developer, Dovetail Games; biotechnology company, Celixir; makers of beauty supplements GOLD COLLAGEN, Minerva Research Labs; recruitment technology platform, Volcanic and AI powered data analysis business, Zirra.
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.
Mr. Wu Lijun, Chairman, SZSE:
We are happy to establish Elite V-Next Alliance with London Stock Exchange Group and as one of the projects recognized by the 9th China-UK Economic and Financial Dialogue. This alliance aims to facilitate cross-border capital formation for ambitious innovative companies. As both countries have unveiled national plans to develop strategies to enhance innovative sectors, this alliance is uniquely positioned to foster a support system for market participants from both countries in integrating the supply chain and capital market services across borders. We look forward to working with LSEG to facilitate further cooperation.
Stephen Barclay, the Economic Secretary to the Treasury:
The UK and China are bursting with innovative ideas and ambitious small and medium sized businesses, so the alliance between the London Stock Exchange Group’s Elite programme and the Shenzhen Stock Exchange is fantastic news for businesses that want to make the next step. I’m delighted to be in China to witness the launch of this alliance, and I look forward to hearing about some of the great new businesses that will join the programme in 2018.
Luca Peyrano, CEO, Elite:
Partnering with the Shenzhen Stock Exchange today is a milestone for Elite. Launching Elite in China, one of the fastest growing countries in the G20 and our first partnership in Asia, will bring education, network and capital to some of China’s most exciting and ambitious companies. Both Elite and Shenzhen Stock Exchange are committed to supporting China’s most dynamic firms. We recognise that these companies are the innovators, job creators and drivers of economic prosperity.
I’m delighted that together Elite and SSIC are expanding Elite and building a unique community of innovative companies and investors from China, the UK and the rest of the world.