China News Service, Beijing, April 26. The China Securities Regulatory Commission issued the "Opinions on Accelerating the High-Quality Development of the Public Fund Industry" (hereinafter referred to as the "Opinions") on the 26th, stating that the implementation of the policy on personal pension investment in public funds should be done well.
The "Opinions" proposed to increase the proportion of medium and long-term funds.
Do a good job in the implementation of the personal pension investment public fund policy, guide industry institutions to make preparations for products, systems, investment education, etc., and encourage industry institutions to develop various fund products with a lock-up period and service life cycle of investors.
Actively participate in the design of various pension investment, operation and management policies, promote and cooperate with relevant departments to introduce market-oriented and long-term pension investment policies, study the establishment of a multi-level supplementary pension system based on individual accounts, and support more outstanding public fund managers to participate Pension management.
The "Opinions" pointed out that public funds, as important institutional investors, are playing an increasingly important role in the reform, development and stability of China's capital market.
However, at the same time, the industry still has problems such as insufficient professional competence, weak cultural construction, and unbalanced structure.
Standing at the new stage of development, we must closely focus on the main line of promoting the high-quality development of the public fund industry, further firmly deepen reform, solidly promote regulatory transformation, and accelerate the construction of a new development pattern for the public fund industry.
The "Opinions" proposed to steadily promote high-level opening up.
Support high-quality overseas financial institutions with long-term investment willingness in China's capital market to set up fund management companies or expand their shareholding ratios, and encourage the industry to actively learn from overseas advanced asset management experience and beneficial business models.
Support qualified fund management companies to "go global", establish overseas subsidiaries in accordance with the law, and improve their ability to serve overseas investors and global asset allocation.
Continue to promote the expansion of the QDII (Qualified Domestic Institutional Investor) quota and expand the investment channels of public funds in overseas markets.
Steadily and orderly promote the two-way opening of products, continue to promote the mutual recognition of funds between the Mainland and Hong Kong, steadily expand the ETF (Exchange Traded Fund) interoperability mechanism, and support eligible public funds to participate in the Guangdong-Hong Kong-Macao Greater Bay Area "Cross-border Wealth Management Connect" business pilot , to promote the inclusion of stock ETFs as the subject of interconnection between the mainland and Hong Kong stock markets.
In terms of improving the efficiency of regulatory transformation, the "Opinions" stated that it is necessary to strengthen the construction of industry infrastructure.
Efforts will be made to improve the data interaction quality and monitoring and analysis capabilities of the central data exchange platform for the public fund industry.
Accelerate the construction of a unified inquiry platform for public fund accounts, and promptly launch the "Fund E Account" APP to provide individual investors with "one-stop" fund account and share information inquiry services.
Build an industry-specific direct sales service platform for institutional investors to provide institutional investors with centralized, standardized and automated fund investment electronic information transfer services.
Comprehensively do a good job in the online work of the personal pension investment public fund information platform to provide a strong guarantee for the industry to participate in the third pillar of pension.
Steadily expand the business functions of the Shanghai and Shenzhen Stock Exchange Fund Connect platform to provide supplementary channels for OTC investors to invest in publicly offered REITs (real estate trust investment funds) and other on-exchange funds.
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