The Tokyo Stock Exchange and China’s Shenzhen Stock Exchange signed an agreement Wednesday on cooperation in developing financial markets in Japan and China, the TSE said.

The memorandum of understanding aims to establish a mechanism of long-term cooperation to facilitate the development of channels of communication between the two parties, the TSE said in a news release.

The move comes after the TSE inked a similar pact with the Shanghai Stock Exchange on Dec. 20.

Under the latest agreement, the Tokyo and Shenzhen bourses plan to exchange personnel, arrange visits by senior management of each bourse and supply each other with information.

“We would like to contribute to further interaction between the capital markets of Japan and China, and furthermore to foster the overall development of Asian capital markets,” said Atsuo Nishihara, the TSE’s managing director and executive officer.

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