Source / economic daily (reporter Li Hualin), producer of the original title “catfish effect of capital market opening can be expected”, edited by Zhang Yiyong / Liu Xinwei.
Of course, the opening of the capital market cannot be achieved overnight, let alone let it go.
With the gradual enrichment and improvement of China’s capital market system and the enhancement of the attraction of RMB assets, more and more wholly foreign-owned or joint venture financial institutions participate.
While opening the door, how to strengthen the supervision of cross-border funds and prevent the impact of large-scale import and export of foreign capital on China’s capital market in the short term are the next issues that relevant departments should consider.
A large number of high-quality listed companies will undoubtedly bring good returns to foreign financial institutions.
At the same time, the rich and high-quality investment targets in China’s capital market also attract the attention of foreign financial institutions.
Looking at development, China’s long-term positive fundamentals of the economy continue to appear.
The pilot registration system of science and innovation board and gem has been implemented smoothly; The proportion of foreign shares and business scope of the securities, funds and futures industry and the national treatment have been fully implemented; The Shanghai Shenzhen Hong Kong stock connect, Shanghai London Stock connect and ETF interworking have continued to expand; The innovation and opening-up of public REITs, futures and options and other products have been steadily promoted, and their attraction to global financial institutions and investors has been significantly improved.
Recently, Goldman Sachs announced that the CSRC has approved the filing of Goldman Sachs as the sole shareholder of its Chinese joint venture Goldman Sachs Gaohua Securities Co., Ltd.
A higher level of opening to the outside world also puts forward higher requirements for supervision.
In novel coronavirus pneumonia, the opening door of our country is bigger and bigger.
This means that another wholly foreign-owned financial institution will land in China.
Nearly 90% of the A-share listed companies that have announced the performance forecast of the first three quarters are expected to be happy.
The entry of foreign high-quality financial institutions will bring a great “catfish effect”.
Not long ago, the main person in charge of the CSRC publicly said that the CSRC is studying and launching relevant measures to further expand the opening-up in accordance with the unified deployment of the country’s new round of high-level opening-up, so as to provide more fair, efficient and convenient services for overseas institutions and investors to participate in China’s capital market.
It is believed that more favorable measures to attract international financial capital are on the way, and China’s capital market will usher in more “catfish”.
Only by taking advantage of the situation and constantly improving the infrastructure construction of the capital market can we better promote reform and development through opening up.
In terms of securities institutions alone, Morgan Stanley Securities, UBS Securities, HSBC Qianhai securities and DBS securities have successively carried out business in China, and more foreign securities institutions such as faba securities and Standard Chartered securities are waiting in line for audit.
For domestic financial institutions, competing on the same stage with international giants with higher international vision, more mature management system and more yuan of product design not only provides them with learning samples, but also forces them to further optimize their service level, innovate product varieties, constantly improve their competitiveness and have a promising future.
An open capital market is a market for mutually beneficial cooperation and common development.
The entry of foreign financial institutions is not only attracted by favorable policies, but also optimistic about the performance of China’s market.
The just released national economic data show that the GDP in the first three quarters increased by 9.8% year-on-year, the main macro indicators are in a reasonable range, and the characteristics of strong economic development toughness, great potential and broad room for maneuver are prominent.
At present, the proportion of foreign capital in the circulating market value of A-share market is about 5%, which is still a certain distance from the expectation of foreign capital on China’s capital market, which also means that there is still much room for improvement in the opening of capital market to the outside world.
The content of this article is original,.
Even though the impact and influence of the new crown pneumonia epidemic are increasing, the pace of reform and opening up has not slowed down, but it has been further accelerated.