China’s Top Securities Official Promises Stable Policies for Foreign Investors
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Wu Qing, China’s top securities regulator, held a symposium with representatives from foreign institutional investors, promising more stable and predictable policies in a bid to shore up market confidence.
“We hope that foreign institutions will leverage their strengths as international investment banks and institutions, adhere to a long-term approach and act as a bridge for communication with global markets,” said Wu, chairman of China Securities Regulatory Commission (CSRC), during a meeting with representatives of 10 foreign-invested institutions, including brokerages, fund managers and futures companies.
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- Wu Qing, CSRC chairman, met foreign investors to promise stable, predictable policies to boost market confidence.
- China’s stock market faces pressures from a sluggish economy; key indexes like CSI 300 and Shanghai Composite have recently declined.
- Efforts to enhance the legal framework, market reforms, and support for new industries aim to attract foreign investment and improve market stability.
- Guosen Securities Co. Ltd.
- Guosen Securities Co. Ltd. is referenced in the article through its chief finance analyst, Wang Jian. The company provides financial analysis and commentary on market trends and economic conditions. Wang Jian noted that recent moves to cultivate profitable, high-growth emerging enterprises will ultimately benefit China's capital markets and make them more attractive to investors.
- Past few months：
- China increased policy efforts to bolster a slow-moving property market, improve capital markets and address other economic headwinds.
- Recent Third Plenum：
- A resolution emphasized the need to establish mechanisms to increase investment in new and emerging industries and improve policies and governance systems to promote the development of strategic sectors.
- Past five days：
- CSI 300 Index lost 3.65%, one of its worst weeks since February 2024.
- As of the end of the first quarter of 2024：
- Foreign institutions and individuals held 2.79 trillion-yuan’s worth of China’s domestic stocks.
- First five months of 2024：
- Net overseas investment in China’s A-share market via the Stock Connect program reached 90 billion yuan ($12.4 billion).
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