China News Agency, Shanghai, June 18 (Gao Zhimiao, Zhou Zhuoao) The 12th Lujiazui Forum (2020) opened in Shanghai on the 18th. Yi Huiman, chairman of the China Securities Regulatory Commission, delivered a keynote speech.
The 12th Lujiazui Forum (2020) China Securities Regulatory Commission Chairman Yi Huiman delivered a keynote speech. Photo by Zhang Hengwei
The current epidemic is still spreading globally and is having and will continue to have a profound impact on the world's political, economic and financial landscape. Yi Huiman said that in the face of this important point, there are two enlightenments: that deepening international cooperation is an inevitable choice for effectively responding to the global economic and financial crisis; professional and efficient policy coordination is the key to preventing the crisis from spreading the economy into a vicious circle.
Yi Huiman pointed out that the pace of opening up of China's capital market has not only slowed down due to the epidemic, but has further accelerated. The restrictions on foreign shares of securities funds and futures institutions were fully liberalized early, and six foreign-controlled securities companies have successfully landed. Maintain good communication with overseas institutional investors, enhance mutual trust, and foreign capital generally maintains a net inflow.
Yi Huiman emphasized that there is no economy in any particular period, which financial market can stand alone, and there is no zero-sum game. In the face of crisis and risk challenges, only cooperation and mutual help are the only way out.
Yi Huiman introduced that the China Securities Regulatory Commission will accelerate the high-level two-way opening of the capital market, continue to deepen the interconnection of capital markets, further optimize the Shanghai-Hong Kong Stock Connect mechanism, expand the investment scope and target of the Shanghai-Shenzhen Stock Connect, and continue to enrich the mainland and Hong Kong. , Multi-level pragmatic cooperation, further improve the Shanghai-London Connect business, further broaden the interconnection of ETFs, jointly promote the construction of Shanghai's financial center, and support the consolidation of Hong Kong's status as an international financial center.
The China Securities Regulatory Commission will continue to promote the construction of the science and technology board. Yi Huiman revealed that it will accelerate the introduction of the target of incorporating the science and technology board into the Shanghai and Shenzhen Stock Connect, introduce a market maker system, and support more hard technology companies to use the capital market to grow and develop. Issue the Science and Technology Board Index, research and launch related products and tools.
Standing on a new historical starting point, the Shanghai International Financial Center will shoulder a new mission and embark on a new journey. Yi Huiman said that the China Securities Regulatory Commission will, as always, vigorously support the construction of the Shanghai International Financial Center and support major reforms and innovative measures in the capital market in Shanghai. (Finish)