Vietnam's Hanoi Stock Exchange (HNX) and China's Shenzhen Stock Exchange (SZSE) signed a memorandum of understanding (MOU) Wednesday to boost cooperation between the two countries' financial services and stock exchanges.

According to the Vietnam Economic Times on Thursday, both bourses agreed to collaborate and exchange information and experience to accelerate the development and efficient operation in the stock markets as well as strengthen knowledge about the development process of each side.

Tran Van Dung, vice chair of management board cum general director of HNX said that the signing will help set up cooperation framework between two bourses via developing information exchange channels, seeking business opportunities.

HNX, after six years of operation, has three separate markets, including shares posting market, government bond market, and UPCoM market. To date, there are about 400 enterprises listing shares under 500 share codes and 126 firms trading shares on UPCoM.

SZSE is one of China's two stock exchanges. It posts shares of 1,277 companies with a total market capitalization of 1.3 trillion U.S. dollars.