Shanghai Stock Exchange further promotes opening-up to attract overseas investment
The Shanghai Stock Exchange (SSE) will continue to ramp up efforts to attract and utilize foreign investment by implementing measures such as attracting overseas high-quality listed companies to issue Chinese Depositary Receipts (CDR) on the bourse, while further exploring and improving the exchange-traded fund (ETF) and other relevant mechanisms.
Meanwhile, the SSE will continue improving the cross-border investment and financing system, enrich the exchange market product system, and further enhance the convenience of foreign issuers and investors to participate in the exchange stock and bond markets, according to a post published on its official Wechat account on Thursday.
As the world's second largest capital market, China has been promoting opening-up to overseas investors, while the internationalization of the market still needs to be elevated, Dong Dengxin, director of the Finance and Securities Institute of the Wuhan University of Science and Technology, told the Global Times on Thursday.
Dong added that the number of high-quality overseas firms seeking to list on the A-share market is still relatively low with relevant mechanisms to be further implemented, as overseas investors eye the Chinese market.
In addition to continuing to promote high-level opening-up of the nation's capital market, the SSE will meanwhile strengthen management and better guard the bottom line to avoid systemic risks.
China Securities Regulatory Commission (CSRC) Chairman Yi Huiman, emphasized the need to expand high-level institutional opening-up of capital markets on Wednesday during a meeting, as part of an effort to consistently carry out the directives of the Central Economic Work Conference and better support overall economic development.
CSRC vowed in the meeting to establish a regularized mechanism for cooperation in audit supervision between China and the US, in a bid to cultivate a more stable and predictable international regulatory cooperation environment.