CSRC chairman meets executives from international financial institutions, welcomes business expansion
Published: Mar 31, 2023 11:29 PM
Birdview of Shanghai Photo: VCG

Birdview of Shanghai Photo: VCG

Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), has met with top executives of global financial institutions, saying China's high-quality development and further opening-up will bring bigger opportunities for global investors.

In recent days, Yi has met with heads of Bridgewater Associates, Crédit Agricole Corporate and Investment Bank, Daiwa Securities Group Inc, HSBC, Manulife Financial, Temasek, Allianz Group, Intesa Sanpaolo, Invesco, and Goldman Sachs, according to a CSRC statement posted on Friday.

Yi said that despite a complex and changing external environment, China's capital market has maintained its course in further deepening reforms and the opening-up process.

China's high-quality development and the Chinese capital market's high-level institutional opening-up bring greater opportunities for market participants, and China welcomes international financial institutions and global investors to continue to expand their business and investment in China to share dividends from China's development.

Yi noted the world economy is undergoing a difficult period, and a series of risky incidents have occurred in the international financial arena. He said he hoped business circles can cooperate on economic and financial matters and inject more certainty into the world economy, promote understanding and international coordination.

Top executives from international financial institutions have expressed how they felt in person the strong resilience, potential and vitality of the Chinese economy and said they hold a firm belief in the prospects of the Chinese economy and the Chinese capital market, according to the CSRC statement.

The steady opening-up of the Chinese capital market in recent years has brought tangible opportunities, they said.

The Chinese capital market put up a good performance in the first three months, following the optimization of the epidemic response. Its bond and asset management market also attracted foreign financial institutions' attention.

The Chinese stock market saw reasonable gains in the first quarter. The Shanghai Composite Index rose 5.57 percent from January 1 to Thursday, while the Shenzhen Component Index recorded a 5.77 percent gain, Wind data showed.

In the first two months, the foreign direct investment inflow went up 1 percent year-on-year to $39.71 billion in US dollar terms.

China hosted two key international forums at the end of March - the China Development Forum and the Boao Forum for Asia - with global business leaders flocking to China in hordes, expressing confidence in China's economy.

Chinese officials have made clear China's commitment to a higher level of market opening, an improved business climate and multilateral cooperation.

Global Times