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China will continue to open up its
capital market and keep an open, supportive attitude toward the set-up
of institutions as well as the launch of businesses and products, the
head of the country's securities regulator said Saturday. "But
at the same time, we must also pay attention to coordinating opening-up
and risk prevention," said Yi Huiman, chairman of the China Securities
Regulatory Commission, at a roundtable of the China Development Forum. Yi
warned against large amount of hot money running in and out, which
would hurt the healthy development of the market and should be "strictly
regulated." He also urged
cooperation with U.S. regulators to properly address the issues
concerning China concept stocks as disagreements could only be resolved
through negotiation. Since China
detailed nine measures to expand opening-up in the capital market at the
Lujiazui Forum in Shanghai in 2019, vigorous policies have been rolled
out to facilitate cross-border capital flows. By
the end of 2020, China had seen three consecutive years of net foreign
capital inflows, with overseas investors' holdings of A-share assets
topping 3 trillion yuan (about 460.8 billion U.S. dollars), according to
Yi.
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