Global EditionASIA 中文双语Français
Home / Business / Macro

Shanghai to test capital market reform, innovation first

By SHI JING in Shanghai | | Updated: 2020-06-18 14:20
Share - WeChat
A view of the Lujiazui area in Shanghai, East China. [Photo/Xinhua]

Major policies to support the capital market reform and innovation will be first tried in Shanghai so that the city enhance its international financial hub status, said Yi Huiman, chairman of the China Securities Regulatory Commission, at the 12th Lujiazui Forum, which began on Thursday.

The CSRC will support the opening-up of the stock market, bond market, futures and other derivatives market in the city. The Shanghai Stock Exchange will be encouraged to carry out more cooperation with overseas markets. The city should be more influential in terms of the pricing power in large commodities such as crude oil, Yi said.

Overseas financial institutions are welcome to establish foreign-controlled securities, fund, and futures branches, Yi said. Efforts should be made to attract more world-class investment banks and asset management firms. To that end, the regulators should continue to create an equal business environment,the CSRC chairman said.

Meanwhile, attempts should be made to explore China's version of class action lawsuits and dispute reconciliation for securities and futures trading in Shanghai to improve the rule of law in the financial sector,he added.

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349