China to push capital market opening-up, support overseas listings: CSRC : stocks

https://news.cgtn.com/news/2022-11-05/CSRC-to-push-capital-market-opening-up-support-overseas-listings-1eIgYWuWAHS/index.html

China’s securities regulator will continue to push institutional reforms regarding the overseas listings of Chinese companies, said Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC) on Saturday.

“We will continue to improve relevant institutional arrangements to further facilitate cross-border investment by domestic and foreign investors and better support cross-border financing of companies,” Fang said at the fifth Hongqiao International Economic Forum.

In terms of attracting more high-quality overseas institutional investors, Fang said that China’s capital market offers solid fundamentals for long-term development and regulators will quicken the implementation of various opening-up measures.

He said that regulators will improve market connectivity programs such as global depositary receipts and Chinese depositary receipts issuance. They will also support various enterprises in their efforts to go public overseas in accordance with existing laws and regulations.

Fang reiterated the pledge to widen the scope of the Stock Connect scheme in strengthening the cooperation between the Chinese mainland and Hong Kong capital markets. The cross-boundary investment channel that connects the Shanghai, Shenzhen and Hong Kong stock exchanges helps investors in one market to trade shares in others.