Our reporter Wang Ning
Recently, UBS Futures announced that it has completed the first domestic commodity futures transaction for QFII and RQFII, becoming the first futures company to support QFII's participation in the domestic commodity futures market.
It marks a new step for foreign investment in the Chinese market.
A number of foreign institutions told the "Securities Daily" reporter that the current overall valuation of the A-share market is relatively low, and they are optimistic about its future performance, especially in the fourth quarter. Based on the resilience of China's infrastructure and exports, it is expected that opportunities will outweigh risks.
In September this year, four domestic futures exchanges issued announcements at the same time, clarifying that QFII and RQFII can participate in China’s futures market transactions, involving 41 varieties, including 23 commodity futures varieties, 16 commodity options varieties, as well as stock index futures and stock index options.
The opening-up of China's capital market has continued to increase.
A number of people from foreign institutions told the "Securities Daily" reporter that one of the important reasons for the continued acceleration of foreign investment in the Chinese market is that they maintain optimistic expectations for Chinese assets.
Liang Zhiwen, CEO of JPMorgan Chase China, told the "Securities Daily" reporter that the current pace of China's capital market opening to the outside world has been accelerated, and the restrictions on foreign equity ratios such as securities, funds, and futures have been fully liberalized. It is highly concerned and welcomed by international investors, providing new and broad opportunities for foreign capital to participate in the Chinese market.
"With the continuous inflow of northbound funds, the A-share market and overseas markets have become more interconnected. We have always held a very positive attitude towards the continuous opening of China's capital market and the participation of foreign capital in the Chinese market. We believe this will bring foreign investment to the market. Broad investment space."
A relevant person from the China Sea Franklin Fund told reporters, "The pessimism in the A-share market has reached a low point. The equity market opportunities in the fourth quarter will outweigh the risks, and it is not appropriate to be overly pessimistic."
Since the beginning of this year, foreign private equity has maintained an orderly pace and continued to allocate Chinese assets, especially since the second half of the year, some foreign private equity has accelerated the filing of new products, covering a variety of strategies.
According to the latest data from Private Equity Pai Pai.com, as of October 13 this year, a total of 10 foreign private equity managers have filed 38 products. From the perspective of strategy classification, there are 25 stock long products, and futures and derivatives strategies. There are 8 products, 2 products are multi-asset strategies, and 3 products belong to other strategies.
Judging from the classification of its managers, Bridgewater (China) Investment became the foreign private equity market with the largest number of private equity products issued during the year, with a total of 22 products issued. Especially since the second half of the year, 15 products have been intensively filed.
The second is Yuansheng Investment, which issued 6 futures and derivatives strategic private placement products during the year.
On the whole, foreign capital is accelerating the deployment of the Chinese market, and the allocation of commodity assets has significantly improved.
A relevant person from Guohai Franklin Fund told reporters that commodity funds are one of the main investment assets of the company's FOF funds.
China is a big resource-consuming country, and expanding and strengthening the commodity market and related derivative financial products will help improve the pricing power of bulk commodities.
"With the further opening of China's futures market, more and more varieties such as iron ore and PTA will be introduced to qualified foreign investors, and the level of internationalization will be further improved, which can provide more opportunities for RMB-denominated settlement."
Liu Yan, chairman of Anjue Asset, told the "Securities Daily" reporter that China's economy as a whole is still maintaining a steady recovery trend, and market confidence is gradually recovering. Sectors with high prosperity, high growth and high valuation margin of safety should have more opportunities.
Lin Jiayi, CEO of Xuanji Gold, told reporters that the investment opportunities in the A-share market in the fourth quarter are very large, mainly because the company's own performance exceeds expectations, and the current risk of suppressing the market is being lifted.
(Securities Daily)