The city of Shenzhen, in southeastern China, at dusk. Picture: 123RF/ WU BINGFENG
The regulator will expand the scope of investments allowed in the stock connect program link with Hong Kong, and allow foreign investors to trade more commodities futures products, China securities regulatory commission vice chairman Fang Xinghai said at the China International Financial Annual Forum 2020 on Sunday in Beijing.
Officials are planning to announce revised rules on qualified foreign institutional investors as soon as possible to increase their “willingness and confidence” to invest in China, he said. Foreigners currently hold only 4.7% of Chinese stocks in circulation, way below the more than 30% in markets like Japan and South Korea, he said.
China last year removed the ceiling on quotas for foreign investors to buy stocks and bonds, after also easing rules in 2018. The country is pushing to increase use of the yuan in international transactions, while also attracting more foreign capital.
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