BEIJING - China Securities Regulatory Commission (CSRC), the securities watchdog, signed a memorandum of understanding (MOU) with the Russian central bank on Monday.

The new MOU will replace the one inked on August 8, 2008, between the CSRC and Russia's financial market supervision bureau, which had been revoked in 2014.

The two sides promised to strengthen cooperation in security market supervision, said a CSRC official statement.

The MOU will also help the healthy development of both countries' capital markets, the statement said.

So far the CSRC has signed 63 MOUs on supervision cooperation with 58 countries and regions.