Photo taken on Nov. 15, 2021 shows a scene at the opening ceremony of the Beijing Stock Exchange, in Beijing, capital of China. (Xinhua/Li Xin)
BEIJING, May 11 (Xinhua) -- China Securities Regulatory Commission (CSRC), the sector regulator, will coordinate with other related sides to resolve the policy obstacles to support mid- and long-term funds to raise their proportion of equity investment, Wang Jianjun, deputy head with the CSRC told Xinhua in an interview recently.
Wang said that CSRC and China Banking and Insurance Regulatory Commission (CBIRC) have convened a meeting to invite opinions in this regard from the social security fund, banks, and insurers recently.
Currently, shareholdings of professional institutional investors in China such as publicly-offered funds, the social security fund, insurance capital, and enterprise annuities have approached 20 percent of the total market capitalization on China's stock market but are still apparently lower than the comparable data on the mature markets abroad.
Under such circumstances, CSRC will work with other policymakers to actively create conditions to craft a market environment where mid- and long-term investors are willing to come and stay, according to Wang.
CSRC thus planned to vigorously promote development of equity funds to encourage them to play a fine role as the professional buyers on the capital market.
Regulatory and supervisory rules on personal pension investment in publicly-offered funds are also to be mapped out as soon as possible in an effort to better gratify the needs of pension investment.
Meanwhile, CSRC will enhance investor protection rules and mechanisms, strengthen communication with investors of varied types, and crack down with "zero tolerance" on various illegal activities on the capital market to better protect investors. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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