Wu Qing: CSRC to deepen two-way opening of capital markets, facilitating cross-border investment

The Global Financial Leaders' Investment Summit is held in Hong Kong on November 19 and 20.

At the summit, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated that Hong Kong is an important bridge connecting the mainland capital market with the global market. The CSRC will take the five measures announced in April this year as key initiatives to continuously deepen practical cooperation between the two regions and fully support Hong Kong in consolidating and enhancing its status as an international financial center.

Wu emphasized that opening is essential for the maturation and high-quality development of China's capital markets. The goal is to anchor a high-level institutional opening, persistently deepen the two-way opening of capital markets, and further facilitate cross-border investment.

He believes that the pace of opening up to the outside world will continue to grow, which includes further maintaining smooth channels for overseas financing, enhancing the efficiency of overseas listing filings for qualified domestic companies, and allowing for better utilization of both markets and resources. Efforts will be made to expand connectivity with overseas markets, broaden the scope of the Shanghai and Shenzhen Stock Connect, and enhance the connectivity of depositary receipts to attract global medium- and long-term capital.

He indicated that there will be a deepening of the bond market opening, a steady expansion of the commodity and opening of the financial futures market, and a better fulfillment of the diverse investment choices and risk management needs of international investors. There will also be cross-border regulatory and enforcement cooperation for securities and futures, with ongoing efforts to strengthen regular communication with international investors, enhancing the stability, transparency, and predictability of policies and continuously improving the convenience of foreign institutions operating in China.

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