The China Securities Regulatory Commission (CSRC) is planning an assessment into the further opening up of China's securities industry and capital markets, Beijing Business Today reported Monday.
“Based on the results of the assessment, CSRC will put forward a medium to long term strategic plan and policy suggestions concerning the further opening of China's securities industry and capital markets," said a CSRC spokesman, adding that the commission will further open up capital markets "by an appropriate degree at an appropriate time".
Although the commission provided no clear schedule, the decision to conduct an assessment caused excitement among foreign investors.
"Further opening of China's capital market will provide more opportunities for international investors, which is obviously something they have been fighting for," said a trader, arguing that the CSRC statement has sent a signal attracting overseas investors to enter China's markets legitimately.
However, Guo Tianyong, a professor at the Central University of Finance and Economics, linked the announcement to the coming China-US Strategic Economic Dialogue.
"People will quite rightly connect this statement with the China-US economic dialogue, to be held on June 17-18," Guo said. He expects the opening up of China's financial industry to be one of the main topics discussed at the China-US get-together tomorrow.
For more details, read the full story in Chinese (http://www.bbtnews.com.cn/bignews/channel/political49253.shtml)
(China.org.cn by Yan Pei, June 16, 2008)