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China will steadily expand the two-way opening-up of the capital market and increase the connectivity of the domestic and overseas markets this year, its securities regulator said Monday. The country will strengthen China-U.S. cooperation on audit regulation in the capital market and move faster to implement policies and regulations related to the overseas listing of companies in 2022, the China Securities Regulatory Commission (CSRC) said in its annual work conference. Continued efforts will be made to support qualified enterprises in overseas listing in accordance with laws and regulations, the CSRC said. The regulator also pledged measures to further advance the reform of the registration-based initial public offering system, improve the multi-level market system, and enhance the efficiency of its capital market governance. To defuse risks in key areas, the country will strictly regulate the financing, mergers and acquisitions of some sectors and set up "traffic lights" for capital, the meeting said.
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