While effectively controlling the epidemic and stabilizing economic development, China's financial opening to the outside world has not slowed down. Recently, many foreign financial institutions such as foreign banks, insurance, securities, investment management and other international financial institutions are rushing to land and expand in China. Large-scale foreign investment holdings and recruitment have begun. Preparations are still underway. "Economic Information Daily" reporter was informed that in the next step, China's higher level of financial liberalization will be accelerated. Relevant departments are stepping up the revision of relevant laws and regulations to ensure that measures such as removing restrictions on foreign investment ratios are implemented on time. Further opening-up policies such as the advancement of capital account opening are also in the pipeline.

Industry insiders pointed out that foreign capitals have stepped up their deployment of China's financial market, indicating that international investors are optimistic about the long-term development prospects of the Chinese economy, and the role of renminbi assets as a hedge has become increasingly apparent. Although the epidemic has a short-term negative impact on the Chinese economy, the fundamentals of the long-term improvement of the Chinese economy have not changed. With the accelerated release of open dividends, China's financial market will show greater potential.

The epidemic is difficult to stop the pace of China's financial industry opening up. Recently, 5 institutions of JP Morgan Securities (China), Korean Reinsurance Shanghai Branch, Russell Investment Management (Shanghai), Invesco and Shanghai (Shanghai) Equity Investment Management and Green Light Global (Shanghai) Asset Management Company have opened in China's finance "Bridgehead"-Shanghai held an online opening ceremony. The five institutions that opened this time are very representative. Among them, JP Morgan Securities (China) and Korean Reinsurance Shanghai Branch are the key projects in Shanghai's first batch of financial opening projects, and Russell Investment Management (Shanghai ), Invesco (Shanghai) Equity Investment Management and Green Light Global (Shanghai) Asset Management Co., Ltd. are all wholly-owned companies established in Shanghai by the world's top investment management companies.

At present, China's financial market has become a common choice for many international financial giants. Recently, many foreign institutions such as Goldman Sachs and JPMorgan Chase have begun large-scale recruitment in China. Among them, Goldman Sachs recently revealed that the recruitment positions in China involve Beijing, Shanghai, Shenzhen and Hong Kong. Foreign investors are also constantly buying up Chinese assets. Wang Chunying, a spokesman and chief economist of the State Administration of Foreign Exchange, recently answered a reporter ’s question, saying that foreign investors had a net increase of US $ 14 billion in domestic bonds in February and a net increase of US $ 1.4 billion in January.

"Foreign investment institutions have increased their presence in China, indicating that international investors are optimistic about the long-term development prospects of the Chinese economy." Wen Bin, chief researcher of China Minsheng Bank, said in an interview with the "Economic Information Daily" reporter that China's stock market and bond market have remained in the near future. Net inflows, and the exchange rate of RMB against the US dollar have basically remained at a balanced and reasonable level. The exchange rate of the RMB basket is still increasing compared to the beginning of the year, and the risk aversion effect of RMB assets has become increasingly apparent. As positive progress has been made in China's epidemic prevention and control, and the resumption of production and production has accelerated, it is expected that the Chinese economy will pick up quickly later, which will also provide support for the global economic fundamentals.

In addition, industry insiders pointed out that China's financial market has been included in multiple international mainstream indexes, which fully reflects the confidence of international investors in the long-term healthy development of China's economy. Following the inclusion of Chinese bonds in the Bloomberg Barclays Global Composite Index in April 2019, starting on February 28 this year, Chinese government bonds were officially included in the JP Morgan Chase Global Emerging Markets Government Bond Index. The FTSE Russell also said that it has included China in its watch country for the FTSE World Treasury Index, which tracks the largest amount of funds, and expects to conduct a mid-term assessment in the near future. Many market participants expect a higher probability of inclusion at that time.

Zou Lian, President of JPMorgan Chase Bank (China) Co., Ltd., said in an interview with the Economic Reference newspaper that China represents one of the world ’s largest development opportunities for JPMorgan Chase and many of its customers. One of the most important markets in the development strategy. "JPMorgan Chase has a long-term strategic plan for its business in China, and we are full of confidence in our business development in China," said Zou Lian.

In the next step, China's higher-level financial liberalization will accelerate. From April 1, China will officially lift restrictions on foreign ownership of securities companies and public fund management companies. Relevant departments are vigorously promoting the revision of relevant laws and regulations to ensure that all these measures are implemented on time. The reporter was informed that there are currently many international financial institutions planning to set up wholly-owned securities companies or public fund management companies in Shanghai after the policy is implemented.

Pan Gongsheng, the deputy governor of the central bank and the director of the State Administration of Foreign Exchange, said recently that the central bank will continue to strengthen the construction of the financial system infrastructure and provide a more friendly and convenient investment environment for international investors. Lu Lei, deputy director of the State Administration of Foreign Exchange, said that in terms of securities investment, it will cooperate with the opening process of the bond, stock market and derivative markets, and improve the management policy of capital exchange and cross-border capital transfer. In cross-border financing, the procedures for foreign debt registration and exchange management were further simplified.

Song Yuesheng, deputy chairman and president of Hang Seng Bank (China) Co., Ltd., said that further opening up of China's financial market means greater market opportunities for foreign financial institutions. Hang Seng Bank will further seize and actively participate in market opportunities in advancing the construction of the Shanghai International Financial Center, the internationalization of the RMB, and the convertibility of Chinese capital projects. Zou Lian said that in the new wave of financial liberalization, JP Morgan hopes to increase investment in China and further expand its business scope under the conditions of regulatory permits. Earnestly strengthen capital investment, talent cultivation and system construction for local business platforms, develop outstanding products, and promote financial technology innovation.

Wen Bin pointed out that in the next stage, China's financial market will show greater potential for space. While attracting more investment entities to participate, we must further strengthen the construction of China's financial market infrastructure, improve trading rules, further develop more products that circumvent market risks, and better provide more diversified financial services for the real economy. (Reporter Wang Zixu)