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Casino Games Are The Most Skill-based?-Beijing Stock Exchange welcomes foreign investors as the city prompts further opening
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Beijing Stock Exchange. Photo: CFPBeijing welcomes and prompts qualified foreign institutional investors to actively participate in investment, stock underwriting and trading product design at Beijing Stock Exchange (BSE), Li Wenhong, Beijing Municipal Bureau of Local Financial Regulation and Supervision, said at a sub-forum of the 2022 China International Fair for Trade in Services (CIFTIS) in Beijing on Sunday, indicating follow-up efforts by the capital government in giving a full play to the BSE's pivotal role in the construction of a more open capital market system.
The remarks regarding market opening-up were among the major highlight at the CIFTIS, which came on the sidelines of the 100-day anniversary of the BSE opening on September 2, 2021. Li's remark was regarded a reflection of the continuous efforts by the municipal government to provide more opportunities for foreign investors as the city weighs further opening up in unleashing its capital market potential.
Speaking on the sideline of the 100-day anniversary of BSE, Li noted that the government would continue to prompt the implementation of the opening-up measures in the capital's financial sector, further optimizing the financial business environment, and create a more complete and dynamic multi-level capital market development pattern.
"We will continue to support foreign-funded institutions to develop in Beijing, set up joint-venture and wholly-owned securities, fund and futures institutions, and support more foreign-funded institutions to participate in the pilot program of Qualified Domestic Limited Partner (QDLP) and Qualified Foreign Limited Partner system," Li said over the weekend.
The bureau will also upgrade the service capabilities targeting foreign investors and global asset allocation.
The development of the capital market in Beijing has achieved new growth over recent years, which reflects the city's solid foundation for further capital market development and internationalization in the future.
The city's total market value and share capital of listed companies have long maintained top place in the country, with more than 760 listed companies at home and abroad, with a total market value of about 40 trillion yuan ($5.77 trillion).
Moreover, Goldman Sachs, UBS, Credit Suisse, Morgan Stanley and other international investment banks have increased their investment and business layout in Beijing growing by adding their stakes in local joint ventures, according to media reports.
Beijing took the lead in launching the QDLP pilot, optimized and improved the QFLP pilot, and attracted the participation of many internationally renowned institutions, Li said at the forum, noting that these moves had further promoted the facilitation of cross-border investment, financing and the internationalization of the capital market.
To welcome and prompt international institutions to actively participate in the investment of the BSE, and to support qualified foreign institutions to participate in the stock underwriting and trading product design of the BSE, is one of the specific measures to promote the reform and opening-up of the capital market, according to Li.