The National Equities Exchange and Quotations (NEEQ), which is also knowns as the new over-the-counter (OTC) market, and the China Fortune Media Group reached an agreement on establishing a strategic partnership between them on Thursday.

The objective of the partnership is to create a sound media environment for the new over-the-counter (OTC) market.

At the signing ceremony for the establishment of the strategic partnership held on Thursday morning, Xie Geng, chairman of the NEEQ, noted that since the capital market is highly sensitive to information, the improvement of news services is also part of its efforts to deepen the reforms of the new OTC market.

He disclosed that as required by the China Securities Regulatory Commission (CSRC), the NEEQ is now focused on developing a plan for building a favorable media environment for the new OTC market. He thought that to that end, it is crucial for the NEEQ to forge a strategic partnership with the China Fortune Media Group.

In his address at the signing ceremony, Ge Wei, chairman of the China Fortune Media Group, said that this year marks the 40th anniversary of the launch of the Reform and Opening-up strategy, which is of great significance to the multi-level development of China’s capital market.

He said that the China Fortune Media Group has always been committed to reporting the development of the new OTC market and the two sides will cooperate with each other in such areas as news coverage, data sharing, and enterprise services.

The China Fortune Media Group is a comprehensive and high-tech-based modern media group which is affiliated to the Xinhua News Agency. The establishment of the group was approved by the Chinese government.