Rui Tang, Deputy General Manager of Shenzhen Stock Exchange: Promote high-level opening up and enhance the influence of A-share pricing
On December 5, Rui Tang, deputy general manager of the Shenzhen Stock Exchange, stated at the 17th China (Shenzhen) International Futures Conference that as a key task of comprehensively deepening the reform of the capital market, accelerating the high-level opening of the capital market is to enhance China’s pricing influence an important channel.
In recent years, the Shenzhen Stock Exchange has focused on the overall goal of “creating a standardized, transparent, open, dynamic and resilient capital market”, and has implemented the policy of “building a system, non-intervention, and zero tolerance” and “four awes and one force”. It is required to conscientiously implement the various reform tasks of the China Securities Regulatory Commission in opening up to the outside world, coordinate development and security, and continue to enhance the influence of A-share pricing with deep reform thinking and open cooperation methodologies.
On the one hand, the Shenzhen Stock Exchange continues to promote high-level opening to the outside world and promote the interconnection of capital markets.
Rui Tang believes that advancing the interconnection of capital markets is conducive to promoting the global allocation of resource elements and the efficient operation of the economic and financial system.
The Shenzhen Stock Exchange is a product of China's reform and opening up. It has always adhered to opening up and continuously expanded its opening. It has signed a memorandum of understanding with 52 exchanges and market institutions around the world, continues to strengthen cross-border cooperation, and actively attracts more international institutional investors to participate in the Shenzhen Stock Exchange market. As of the end of October this year, foreign investors accounted for 5% of the market capitalization of Shenzhen Stock Exchange, and this year's turnover accounted for 8%.
On the other hand, the Shenzhen Stock Exchange promotes the coordinated development of the Shenzhen and Hong Kong capital markets and improves the types of cross-border investment and financing products. Rui Tang said that the Shenzhen Stock Exchange leveraged its advantages of "connecting Hong Kong and facing the world" to provide cross-border information display services for the first batch of offshore RMB local government bonds (issued by the Shenzhen government), and help the integration of financial services in the Guangdong-Hong Kong-Macao Greater Bay Area;
After the launch of HSTECHF and MSCI China A50 Interconnection Index Futures in the Hong Kong market, the Shenzhen Stock Exchange launched five ETF products linked to the corresponding indexes, which further enriched the Shenzhen Stock Exchange’s cross-border ETF product system and promoted the interconnection between the Mainland and Hong Kong. The two-wheel drive pattern of matching futures and spot.
"The sustained growth of China's economy and the huge development potential of the capital market provide rare opportunities for global investors." Institutional arrangements for overseas investment and financing, improve the level of connection between domestic and foreign rules and infrastructure interconnection, and continuously enrich the channels and products of cross-border investment.
Improve and expand the Shenzhen-Hong Kong Stock Connect mechanism, optimize the way for foreign institutional investors to participate in the exchange bond market, expand ETF interconnection channels, enrich the stock option product system, promote the research and development of Shenzhen stock index futures, and provide international investors with more diversified investment options and risk management tools to promote the establishment of a larger, broader, and deeper opening-up pattern, and continue to enhance China’s pricing influence.