Definition of the timetable for abolishing the restriction on the ratio of foreign capital to stock in securities fund futures companies

category:Finance
 Definition of the timetable for abolishing the restriction on the ratio of foreign capital to stock in securities fund futures companies


Gao Li said that the SFC would continue to firmly implement the overall arrangement of Chinas opening to the outside world, actively promote the process of capital market opening to the outside world, do a solid job in every specific opening-up work, and continue to do a good job in auditing the establishment or change of actual controllers of joint venture securities companies and fund management companies according to law, compliance and efficiency.

In July this year, the office of the financial stability and Development Commission of the State Council announced that, in accordance with the principle of sooner rather than later, sooner rather than later, the time point for the cancellation of the restrictions on foreign shares of futures companies in 2021 should be advanced to 2020. After the issuance of the policy, the SFC will do a good job in the implementation of the policy landing, improve the relevant supporting arrangements, enhance the regulatory capacity in an open environment, and effectively guard against risks.

Earlier, the SFC had said that abolishing the restrictions on the ratio of foreign capital to stocks of securities companies, fund management companies and futures companies ahead of 2020 was an important measure taken by the SFC to conscientiously implement the decision-making and deployment of the Central Committee of the CPC and the State Council in deepening the reform of the financial supply side and expanding the opening of the financial sector to the outside world, which met the objective requirements of capital market and industry in promoting reform and development through opening up, and embodied our country We will unswervingly deepen our determination and confidence in reform and opening up. After nearly 30 years of development, Chinas securities, funds and futures industry has made considerable progress. By expanding the opening up of the industry, encouraging healthy competition and continuously enhancing its strength, it is conducive to creating a good market environment and business environment, promoting the level of industry services to achieve a leap forward, and meeting the needs of the real economy and people for a better life with better financial services.

Previously, in order to implement the decision-making plan of the Central Committee of the Party and the State Council on further expanding the opening up of the financial industry, introduce high-quality overseas financial institutions to invest in domestic futures companies in an orderly manner, and improve the economic capacity and international competitiveness of the service entities in the futures industry of our country, with the approval of the State Council, the SFC formally promulgated the Regulations on the Administration of Foreign-invested Futures Companies in August 2018, which The ratio of foreign investors holding shares of domestic futures companies has been relaxed to 51%, and there will be no restriction after three years. In addition, in 2018, China announced that it would relax the restrictions on the proportion of foreign investment in joint venture securities companies and fund management companies to 51%, and no more in three years. At present, the policy of relaxing the ratio of foreign capital shares to 51% has been implemented and four foreign-controlled securities companies and fund management companies have been approved successively. Many foreign-funded institutions have expressed positive willingness to increase investment in China and participate in the construction and development of Chinas capital market. The effect of the opening-up policy and the good response of all parties have created favorable conditions for speeding up the opening-up of the securities fund futures industry. Source: Responsible Editor of Securities Times: Yang Qian_NF4425

Previously, in order to implement the decision-making plan of the Central Committee of the Party and the State Council on further expanding the opening up of the financial industry, introduce high-quality overseas financial institutions to invest in domestic futures companies in an orderly manner, and improve the economic capacity and international competitiveness of the service entities in the futures industry of our country, with the approval of the State Council, the SFC formally promulgated the Regulations on the Administration of Foreign-invested Futures Companies in August 2018, which The ratio of foreign investors holding shares of domestic futures companies has been relaxed to 51%, and there will be no restriction after three years.

In addition, in 2018, China announced that it would relax the restrictions on the proportion of foreign investment in joint venture securities companies and fund management companies to 51%, and no more in three years. At present, the policy of relaxing the ratio of foreign capital shares to 51% has been implemented and four foreign-controlled securities companies and fund management companies have been approved successively. Many foreign-funded institutions have expressed positive willingness to increase investment in China and participate in the construction and development of Chinas capital market. The effect of the opening-up policy and the good response of all parties have created favorable conditions for speeding up the opening-up of the securities fund futures industry.