The securities commissions of Alberta, British Columbia, Ontario, and Quebec announced Thursday that they have signed a memorandum of understanding for co-operation and information sharing with the China Securities Regulatory Commission (CSRC).

“Both the Chinese regulators and the provincial regulators in Canada recognize the increasing international activities in the securities and futures markets. We now have a framework to assist each other in protecting investors and the integrity of our markets,” said Doug Hyndman, the chair of the British Columbia Securities Commission, which led the discussions with the CSRC.

The MOU is also a necessary condition for Canadian companies to participate in joint ventures in the securities and fund management business in China. The signing opens new business opportunities in China for Canadian financial firms.

The CSRC is the authority responsible for the supervision and regulation of the national securities and futures market in China.

The four provincial commissions are: the Alberta Securities Commission; the British Columbia Securities Commission; the Ontario Securities Commission; and the Quebec Securities Commission.