[Commentary] On June 18th, the 12th Lujiazui Forum with the theme of "Shanghai International Financial Center 2020: New Starting Point, New Mission, New Vision" opened in Shanghai. Due to the epidemic situation, this year's Lujiazui Forum used online video for the first time to connect the domestic and foreign guests of the forum, and the proportion of foreign guests of the forum also reached the highest in the past years.
[Explanation] The current epidemic situation is still spreading globally, and it is and will continue to have a profound impact on the world's political, economic and financial landscape. Yi Huiman, chairman of the China Securities Regulatory Commission, said that in the face of this important juncture, 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 to prevent the crisis from spreading into a vicious economy The key to the cycle.
[Same period] (Yi Huiman, Chairman of China Securities Regulatory Commission) 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. QFII and RQFII completely abolished quota limits, maintained good communication with overseas institutional investors, enhanced mutual trust, and overall foreign investment maintained a net inflow. In a special period, there is no economy, no financial market can be 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.
[Commentary] China Securities Regulatory Commission will also continue to promote the construction of science and technology board. Yi Huiman revealed in the forum that it will accelerate the launch of the target of incorporating the science and technology board stocks into the Shanghai and Shenzhen Stock Connect, introduce a market maker system, support more hard technology companies to use the capital market to develop and grow, 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.
[Same period] (Chairman of the China Securities Regulatory Commission, Yi Huiman) The new starting point requires a new vision, a new pattern, and a new mind. The China Securities Regulatory Commission will continue to strengthen its extensive contacts with overseas financial regulatory agencies and international financial organizations, actively participate in international financial governance, jointly establish a law enforcement alliance to combat cross-border securities violations and criminal acts, and jointly solve the problem of strengthening the audit cooperation of listed companies worldwide To jointly safeguard the legitimate rights and interests of investors from all countries, these are also new requirements and new connotations for advancing the construction of Shanghai International Financial Center at a new starting point.
Gao Zhimiao Xu Yinkang Yu Zhan Shanghai Report
Editor in charge: [Wang Kai]