According to the official website of the China Securities Regulatory Commission, 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).
Source: SFC website
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 recently, and obtained a license to operate securities and futures business in accordance with the law.
Foreign investment banks have accelerated their grabs in the Chinese market
Su Dewei, chairman and CEO of Goldman Sachs, said: "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., 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. With the comprehensive deepening of reform in China's capital market and the promotion of the registration system 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.
In addition to Goldman Sachs, a number of foreign investment banks are accelerating the acquisition of the Chinese market and deeply developing related businesses.
On July 13, Huaxin Announced that Morgan Stanley Huaxin Securities Co., Ltd. completed the registration of industrial and commercial changes involved in the equity transfer. At the same time, the name of the company was changed to "Morgan Stanley Securities (China) Co., Ltd." The name change is an important milestone in Morgan Stanley's continued development of its business in China.
China's capital market adheres to opening up to the outside world
At the 2019 Lujiazui Forum, China's capital market announced the introduction of 9 measures to further expand opening up. Since then, the regulatory authorities have implemented the overall deployment of opening up to the outside world, actively promoted the process of opening up the capital market, held an open and supportive attitude towards institutional settings, business start-ups, products, etc., and solidly promoted the implementation of each specific work of opening up to the outside world.
Chen Li, chief economist and director of the research institute of Chuancai Securities, said that the firm determination of China's capital market to open up to the outside world has never changed. High-level opening to the outside world is an important symbol of China's capital market towards maturity, to do a good job in opening up, on the one hand, to learn from the international advanced system and experience, deepen the reform of the domestic securities market, encourage and guide foreign capital to participate in the construction of the domestic securities market; on the other hand, to promote the high-quality development of listed companies, the core essence of attracting foreign capital inflow is actually excellent enterprises, so listed companies should have high standards and strict requirements, while strengthening financial support for listed companies, to help high-quality development.
Experts believe that in the process of accelerating the construction of a new pattern of "double circulation", the degree of openness of China's capital market will gradually increase.
Zhu Jianfang, chief economist of CITIC Securities, said that looking forward to the "14th Five-Year Plan", with the domestic cycle as the main body, the new development pattern of domestic and international dual cycles promoting each other not only includes the real economy cycle, but also includes the capital market cycle, and the capital market cycle has greater space and potential for construction and development in China. He predicted that the capital market will become stronger and larger, the degree of openness will be further improved, and the ability to allocate economic resources will be further enhanced, which will be an important feature of the "14th Five-Year Plan" period.
Editor: Xu Xiaohong
