Photo taken on June 22, 2022 shows the view at the Victoria Harbor in Hong Kong, south China. (Xinhua/Li Gang)
BEIJING, Nov. 7 (Xinhua) -- China Securities Regulatory Commission (CSRC), the sector regulator, will continue to firmly advance the high-quality opening-up of China's capital market, reported Xinhua-run Shanghai Securities News quoting Fang Xinghai, deputy head with CSRC on Monday.
Fang said CSRC will work on attracting more mid- and long-term capital at home and abroad with high-quality development of capital market and introduce more overseas institutional investors of varied types to diversify the institutional investors on China's capital market.
He made the remarks at a parallel session under the Fifth Hongqiao International Economic Forum on November 5, adding that construction of a market-oriented, law-based and internationalized business environment is the key to institutional opening-up of China's capital market.
Year to date, portfolio and long-term capital have maintained net inflows into China, denoting their optimism about the long-term investment value of A-shares and confidence in China's long-term economic prospects, he said.
CSRC will further facilitation to cross-border investment by investors at home and abroad and better supports to cross-border corporate financing, disclosed Fang.
CSRC also plans to enrich mutual market access schemes such as global depository receipt (GDR) and Chinese depository receipt (CDR) issuance and press ahead corporate overseas listing rules reform to support companies to list overseas.
Apart from these, CSRC will boost the progammatic cooperation between the capital markets of the Chinese mainland and Hong Kong Special Administrative Region (HKSAR), including expanding the investable stocks under the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programs by adding more A-shares, and supporting launch of RMB-denominated stock trading counters and T-bond futures in the HKSAR.
Recent years, China's capital market high-level institutional opening-up measures have been put into practice in an orderly manner and have vigorously promoted development of higher quality on capital market, according to Fang.
After launch of the China-Japan exchange-traded fund (ETF) connect and the ETF connect schemes for China's Shenzhen and Shanghai with the HKSAR of China, 11 products under the former and six products for the latter schemes have been rolled out.
Moreover, China-Singapore ETF connect products are also about to be launched, Fang said. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
A single purchase
