BEIJING, May 25 (Xinhua) -- China's Shanghai Stock Exchange (SSE) has signed a memorandum of understanding with the Singapore Exchange on bilateral cooperation in exchange-traded fund (ETF) products, said the SSE in an online statement Wednesday.

The signing aims to support market institutions from both countries to develop new ETF products catering to investors' growing appetite for cross-border investment, according to the statement.

It added that the signing signified the two bourses' solid efforts to explore new approaches for cooperation, as well as a milestone for cooperation between the capital markets of both sides.

The SSE said that it would make continued efforts to boost ETF connectivity and deepen cooperation with capital markets along the Belt and Road.