Beijing, August 4: The Chairman of the China Securities Regulatory Commission (CSRC), Wu Qing, announced on Monday that China will enhance cooperation between mainland and Hong Kong index institutions. The aim is to develop more index products based on Chinese assets and strengthen their position in the global market.
Wu Qing stated that financial institutions and enterprises in both regions will be encouraged to issue Exchange-Traded Fund (ETF) products based on China’s modern industrial system. Additionally, the registration mechanism for ETF products will be improved to jointly enhance the international recognition and influence of Chinese indices and assets.
He made these remarks at the launch ceremony of the Renminbi government bond futures held in Hong Kong. Wu Qing emphasized that practical financial cooperation between mainland China and Hong Kong will be deepened, providing more policy support for the development of Hong Kong’s capital market.
He mentioned that mainland enterprises planning to expand internationally will receive assistance in getting listed in Hong Kong. Furthermore, high-quality listed companies in Hong Kong will be supported in their opportunities to list in the mainland market. Efforts will also be made to facilitate bond issuance by qualified Hong Kong companies in the mainland.
Wu Qing also indicated that there will be considerations to expand the scope of qualification recognition for professionals in the securities and futures sectors in both regions. This will create more job opportunities for talented individuals in the financial sector across both locations.
On the same day, the five-year Renminbi government bond futures were officially launched in Hong Kong.
(Source: China Media Group, Beijing)
Leave a Comment