The SFC approved Goldman Sachs Gaohua Acquisition to engage in alternative investment business

According to the news on the website of the China Securities Regulatory Commission on the 28th, the CSRC recently approved Goldman Sachs Gaohua Securities Co., Ltd. to engage in alternative investment business through the acquisition of Beijing Gaohua Shengze Investment Management Co., Ltd. (limited to participating in the science and technology innovation board and the ChiNext board). In addition, in August 2020, the CSRC approved citibank (China) Co., Ltd.'s securities investment fund custody qualification, and the company also completed the preparatory work and obtained a license to operate securities and futures business in accordance with the law. Experts said that the capital market is steadily taking steps towards opening up to the outside world, and the firm determination of the capital market to open up to the outside world has not changed.

Su Dewei, chairman and CEO of Goldman Sachs, said earlier in response to a question from a reporter from China Securities News, "China's capital market is relaxing the threshold for market access, among which the pilot registration system of the science and technology innovation board is crucial to the development of China's capital market." Capital market reform must create better capital formation mechanisms to facilitate the participation of domestic and foreign investors in China's economic growth. ”

Fan Xiang, chairman of Goldman Sachs Gaohua Securities Co., Ltd., previously said in an exclusive interview with a reporter from China Securities News that China's capital market will release huge development space during the "14th Five-Year Plan" period. As the comprehensive deepening of reform in China's capital market continues to advance and the registration system is promoted to the whole market, the Chinese market will usher in new development opportunities, and Goldman Sachs China business will once again enjoy the dividends of China's capital market reform.

Chen Li, chief economist and director of the research institute of Chuancai Securities, said that the firm determination of the capital market to open up to the outside world has never changed. A high level of opening up to the outside world is an important symbol of the maturity of China's capital market. To do a good job in opening up to the outside world, on the one hand, we must learn from international advanced experience, deepen the reform of the domestic securities market, and encourage and guide foreign capital to participate in the construction of the domestic securities market; on the other hand, we must promote the high-quality development of listed companies, and the core essence of attracting foreign capital inflow lies in excellent enterprises, so we must have high standards and strict requirements for listed companies, and at the same time strengthen financial support for listed companies to help high-quality development.

Source: China Securities News