Capital market to open further

China will accelerate the opening of its capital market to foreign asset managers and the market will likely see a surge in new investment products offered by foreign funds in the first quarter of this year, according to a senior official of the Asset Management Association of China.

Recent stock market volatility and intensified regulation to curb financial risks will not derail China's effort to reform and open its capital markets, and foreign fund managers have expressed optimism regarding the Chinese market's longterm prospects, the AMAC official said.

"They will come with their mature investment strategies and business models, which will bring healthy competition and benefit the longterm development of the domestic sector," the official said.