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世界今热点:China Vows to Insist the Opening Up of Capital Market

时间:2022-09-03 08:06:22       来源:钛媒体


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BEIJING, September 2 (TMTPOST) – A number of measures would be lauched to deepen the opening of the current capital market, Fang Xinghai, Vice Chairman of the China Securities Regulatory Commision (CSRC) , announced on China International Finance Annual Forum 2022 on Friday.

The 2022 China International Finance Annual Forum is one of the important forums in Financial Services of the 2022 China International Fair for Trade in Services (CIFTIS).

These measures include continuing to steadily promote the all-around opening of the market, institutions and products. It is advocated to promote the legislative process of new regulations for overseas listing, and make preparations for corresponding regulations and system construction after the implementation of the reform. Expanding and optimizing the depositary receipts business and supporting more listed companies to issue depositary receipts are important.

China will endeavor to further improve the mechanism of the Shanghai-Shenzhen-Hong Kong Stock Connect, and promote substantial progress in the connectivity of bond markets. At the same time, it is significant to steadily expand the varieties of internationalized commodity and financial futures, and support cooperation in the authorization of settlement prices for futures products in order to seek diverse paths to realize the opening up of the futures market.

In terms of cooperation with Hong Kong, the CSRC will work with the Hong Kong side and relevant departments to launch three initiatives, including expanding the underlying stocks of the Shanghai-Shenzhen-Hong Kong Stock Connect, supporting the launch of RMB stock trading counter in Hong Kong, and advocating the launch of treasury bond futures in Hong Kong.

Previously, the second listing has been a "popular option" for Chinese stocks listed in Hong Kong, because of its lower threshold ad shorter review cycle. Since 2022, dual primary listing has gradually replaced the previous secondary listing as the mainstream for Chinese stocks to return to Hong Kong. 

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