China calls for communication on supervision of Chinese firms seeking listings in US

0 Comment(s)Print E-mail Xinhua, August 2, 2021
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The U.S. and Chinese regulators should enhance communication on the supervision of China concept stocks and work out proper solutions, the China Securities Regulatory Commission (CSRC) said Sunday.

These efforts, in the spirit of mutual respect and win-win cooperation, should help create positive expectations for policies and foster a sound institutional environment for the market, said the CSRC.

A CSRC spokesperson made the remarks when commenting on the recent statement of the U.S. Securities and Exchange Commission requiring Chinese companies seeking listings in the United States to disclose more information.

It is an inevitable choice to strengthen regulatory cooperation between the Chinese and U.S. capital markets, both important markets in the world and increasingly interconnected, the spokesperson noted.

The purpose of ongoing regulation of certain industries by Chinese authorities is to ensure both development and security and promote sustained and sound development of market entities, according to the spokesperson.

The CSRC will keep in close touch with relevant authorities when making and implementing regulations and step up coordination between investors, enterprises and regulators to further improve the transparency and predictability of policy measures, said the spokesperson.

China has always been open to enterprises' choice of listing places and supported firms in choosing both domestic and international markets in accordance with laws and regulations.

No matter where an enterprise is listed, it should comply with laws, regulations and regulatory requirements of the place where it goes public or operates in, the spokesperson said.

"The prospects of China's capital market are predictable, with sustainable and healthy development," the spokesperson said, adding that Chinese economy has sustained steady recovery since the beginning of the year, seeing prosperous development of a large number of outstanding enterprises and continuous increase in high-quality investment targets in the capital market.

As long as listed companies are operating well with high quality and constantly improving business ecology, they will naturally appeal to investors, said the spokesperson.

Firmly sticking to the basic state policy of reform and opening-up, China will continuously deepen opening-up in the financial sector, said the spokesperson, adding that more pragmatic measures for opening-up will be introduced in the next stage to promote the high-quality development of China's capital market.

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