BEIJING, Oct. 19 (Xinhua) -- The China Securities Regulatory Commission (CSRC) will continue to expand all-round opening-up and promote innovation to stabilize the stock market and shore up confidence, said Liu Shiyu, chairman of the CSRC, in an interview with Xinhua on Friday.
The CSRC will support foreign-invested asset management institutions to establish legal entities in China and engage in asset management businesses including stocks and other equity assets, Liu added.
According to Liu, the CSRC will also introduce several other measures to ensure reform and opening-up of the stock market.
The CSRC will release a policy soon to allow related asset management products to roll over during the transition period in a bid to undertake unexpired assets.
Meanwhile, it will improve the share repurchase system of listed companies as soon as possible, and continuously deepen the market-oriented reform of mergers and acquisitions (M&As).
A "small and fast" review mechanism for M&As has been launched, which will be applied in the high-tech industry first, according to Liu.
The CSRC will encourage various types of funds managed by the local governments, the qualified private equity investment funds, and the asset management products run by brokers to separately or jointly form new funds to help the listed companies with development prospects but temporarily in operational difficulties to ease their stock pledge problems.
It will also encourage the private equity funds to purchase shares of listed companies and participate in M&As of listed companies by non-public offerings, agreement transfers and block trading. (Edited by Yang Qi, kateqiyang@xinhua.org)
A single purchase
