TMX Group Ltd., the operator of the Tornto Stock Exchange, and Shenzhen Stock Exchange (SZSE) on Monday announced the signing of a non-binding memorandum of understanding (MoU) which promises co-operation between the exchanges, and could one day lead to trading links between Canada and China.

TheMoU will initially focus on connecting investors and tech companies in the exchanges’ respective markets, with the prospect that they could eventually develop connections for trading, clearing and settlement between the two countries.

To start , the MOU sees the exchanges pledge to “explore opportunities for economic cooperation”, particularly in the tech sector. To that end, the exchanges say that they intend to create — what they are calling the “China-Canada Technology and Innovation Companies Service Initiative” — to help connect investors and companies “through an expanded capital formation platform” utilizing their existing services, facilities and networks.

“TMX and SZSE share a commitment to exploring new pathways to growth for innovative companies of all sizes across our markets. With this MoU, we look forward to the collaborative work ahead as we seek to leverage the strengths and expertise of our two organizations to establish lasting, mutually beneficial connections between our markets and our countries,” says Lou Eccleston, CEO of TMX Group, in a statement.

“China and Canada have a great potential for economic cooperation especially in the technology and innovation sectors. Both SZSE and TMX are dedicated to building a multi-tier market to cater to demands of innovative companies at different developing stage and we have lots of common ground for future cooperation,” adds Wang Jianjun, president and CEO, SZSE.

The MoU, which was approved by the China Securities Regulatory Commission (CSRC) on Sept. 27, is effective for five years.