BEIJING, Nov. 4 (Xinhua) -- China will continue opening up and welcomes more international institutions to participate in China's capital market, reported Xinhua-run Shanghai Securities News citing Fang Xinghai, deputy head with China Securities Regulatory Commission (CSRC) on Thursday.
Fang made the remarks on the "Global Financial Leaders' Investment Summit" held in China's Hong Kong Special Administrative Region (HKSAR) on November 2, saying that China is pressing ahead with the high-quality construction of capital market with full strength and will continue to open the capital market to global investors.
In China's economic growth, the HKSAR plays an important role and CSRC will help facilitate and promote development of HKSAR's financial market, said Fang.
Prior to this, CSRC had announced three measures including expanding the investable stocks under the Stock Connect schemes between the Chinese mainland and HKSAR, and supporting HKSAR to launch T-bond futures and Renminbi-denominated stocks trading counters.
As Fang noted, the Stock Connect programs enable Chinese mainland investors to invest in global companies and contribute to attracting overseas companies to go public on the stock market of HKSAR.
With sound development of a T-bond futures market, global investors can conduct risk management and pricing in a better way and establishing the RMB-denominated stocks trading counters can cement trading of both the RMB and Hong Kong dollars as well.
Moreover, rollout of the three measures will also facilitate construction of the Hong Kong international financial center and attraction of more international investors to invest in RMB-denominated assets, according to Fang. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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