BEIJING, June 20 (Xinhua) -- China Securities Regulatory Commission (CSRC) will further deepen capital market reform and opening up, reported China Securities Journal citing CSRC head Wu Qing on Thursday.
Wu made the remarks on June 18 during the 2025 Lujiazui Forum, outlining policies and measures of five aspects to facilitate the moves to spur better integration of sci-tech innovation and industrial innovation.
As Wu introduced, CSRC would continue to leverage the "reform testing field" role of sci-tech innovation board (STAR Market) and step up effort to roll out a "1+6" policy package to foster the STAR Market reform.
In the package, its core lies in setting up a sci-tech growth tier on STAR Market and resuming application of the fifth set of related listing standards for unprofitable enterprises to serve more precisely qualified quality sci-tech firms.
CSRC will also start using the third set of related listing standards on Nasdaq-style ChiNext board to support listing of unprofitable but promising innovative businesses.
Other four aspects of policies and measures target reinforcing advantages of equities and bonds interaction in serving sci-tech innovation, ramping up cultivation of patient and long-term capital, encouraging sci-tech-driven listed companies to grow bigger, and creating a more open and inclusive capital market ecosystem.
Wu stressed that CSRC planned to expedite implementation of this year's capital market opening up measures to offer global investors more opportunities to benefit from China's innovation and development.
For instance, the 2025 measures include releasing plans optimizing qualified foreign institutional investors (QFII) rules, putting more products into the tradable assets basket for foreign investors, researching over advancing Renminbi-denominated foreign exchange futures together with the Chinese central bank, and promoting listing of liquefied natural gas futures and options with related parties.
To enlarge the tradable assets basket for foreign investors, CSRC intended to expand as soon as possible the total number of tradable futures and options for QFIIs to 100 ones, reported the newspaper quoting Wu.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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