China Securities Regulatory Commission: four measures to enhance the radiation effect and institutional agglomeration effect of Beijing Capital Market
Gao Li, a spokesman for the China Securities Regulatory Commission, said that in recent years, the CSRC has held several meetings to study and formulate policy arrangements to support the construction of the two districts in Beijing, detailing and clarifying more than 10 specific measures in five aspects, so as to actively promote the capital market to better serve the high-quality development of the capital economy.
In the next step, the CSRC will, as always, actively participate in and support the development of Beijing, accelerate the implementation of relevant work on the capital market, promote the radiation effect and institutional agglomeration effect of Beijings capital market, and actively contribute to the construction of four centers and two districts in Beijing.
Gao Li said that the CSRC will support the construction of Beijings four centers and two districts from the following four aspects:
Second, we should support high-quality securities fund institutions in Beijing, actively carry out business, product, service, organization and technological innovation, and strive to build an international first-class investment bank and wealth management institution.
Third, we should support Beijing to carry out financial technology innovation, promptly issue relevant documents, take the lead in carrying out capital market financial technology innovation supervision pilot in Beijing, and continue to promote the application of blockchain technology in the registration and settlement fields of regional equity markets such as Beijing.
Fourth, optimize the financial legal environment, support Beijing to carry out securities representative litigation pilot, improve the mechanism of securities and Futures Dispute Resolution, litigation docking and arbitration, and help Beijing build a legal and honest capital market demonstration zone.
The peoples Bank of China: five major policies to support the construction of two districts and four centers in Beijing
Mo Wangui, deputy director of the Financial Research Institute of the peoples Bank of China, introduced the next policy trend of the peoples Bank of China to support the construction of two districts and four centers in Beijing and the high-quality economic development.
First, we should increase monetary policy to support epidemic prevention and control and economic development in the capital.
In the next step, the peoples Bank of China will adhere to the sound monetary policy, strengthen the coordination and coordination of macro policies, speed up the transmission mechanism of monetary policy to the real economy, further stimulate the vitality of micro market entities, continue to increase financial support to stabilize enterprises and ensure employment, so as to effectively implement the policies that have been issued.
Second, we should support Beijing to build a pilot free trade zone and a comprehensive demonstration zone for the opening up of the national service industry.
We will support Beijing to expand the opening up of the financial sector, allow banks in the region to issue overseas RMB loans to RMB bank settlement accounts of overseas institutions, carry out pilot projects of comprehensive financial operation prudently and orderly, and support social capital to set up and lead the operation of RMB international investment and loan fund in Beijing.
We will support Beijing to strengthen financial services for the real economy, and allow the transfer of physical assets, equity transfer, capital increase and share expansion, and cross-border transactions through the Beijing Equity Exchange.
We will support Beijing to improve its open economic risk prevention system, strengthen anti money laundering, anti-terrorism financing and anti tax evasion, and further enhance the ability of financial risk prevention.
Support Beijing to explore a new path of coordinated development of Beijing, Tianjin and Hebei, support the construction of Beijing Tianjin Hebei financial risk monitoring and early warning platform under the guidance of national financial regulatory agencies, and improve the Beijing Tianjin Hebei integrated credit enhancement system.
The peoples Bank of China will support Beijings application for the construction of Zhongguancun Science and technology innovation financial Experimental Zone in combination with some advantages of Beijing. It will innovate the scientific and technological innovation financial organization system, promote the pilot project of stock and debt linkage, develop and strengthen the venture capital industry, attract long-term capital to invest in the field of science and technology, and improve the science and technology insurance system, so as to create a new world innovation engine leading the world and have global influence Science and technology innovation center.
At the same time, under the premise of controllable risks, around the functional orientation of the four centers of the capital, support the construction of national cultural and Financial Cooperation Demonstration Zone, innovate financial instruments, and vigorously support the development of cultural industry. We will support Beijing to apply for the construction of a green financial reform and innovation pilot zone and build an international exchange center for green finance.
In the next step, the peoples Bank of China will support the implementation of major financial technology projects in Beijing, focusing on payment and settlement, registration and trusteeship, credit rating, asset trading, data management and other links, so as to improve the service level of financial infrastructure by means of science and technology.
Give full play to the role of the pilot mechanism of financial technology innovation supervision, and steadily carry out financial technology innovation on the premise of serving the real economy, controlling risks and fully protecting the rights and interests of consumers.
Fifthly, actively support the construction of the capitals business environment.
In the next step, the peoples Bank of China will carry out the pilot projects of domestic and foreign currency bank settlement accounts and cross-border fund pool, steadily promote the pilot of remote opening of corporate bank settlement accounts, promote the pilot of mobile payment facilitation for inbound personnel, and explore the application of the central banks digital currency in the Winter Olympic Games.
Mo Wangui said that in the future, the peoples Bank of China will solidly promote the steady and orderly opening up of the financial industry, continue to implement the announced financial reform and innovation measures, actively promote the virtuous circle of science and technology, finance and industry, continue to support the construction of two zones in Beijing, and fully support the economic and social development of Beijing.
Liang Ling, a first level inspector of the regulatory department of the CIRC, introduced that the CIRC participated in the formulation of a comprehensive pilot scheme for deepening the opening up of Beijings service industry in a new round, further optimized the regulatory rules and improved supporting policies, including:
First, give priority to allowing multinational companies to set up wholly foreign-owned property insurance companies in Beijing; second, support bancassurance institutions to carry out financial technology innovation activities in Beijing according to law, and support qualified financial institutions to set up financial technology companies in Beijing; third, encourage bancassurance institutions to explore personalized financial services suitable for scientific and technological innovation enterprises; fourth, guide bank insurance institutions To provide financial services for modern service industry enterprises in Beijing, support banking institutions to set up cultural and creative exclusive branches, participate in summing up experience, copy and promote work, and give better play to the demonstration effect and driving role of Beijings service industry in expanding opening up.
First, support the establishment of private banks in Beijing that focus on supporting the development of cultural and creative industries; second, encourage insurance institutions to explore the development of cultural and intellectual property insurance business; third, encourage qualified Chinese banks to carry out cross-border financial services; fourth, support multinational companies to set up financial companies in accordance with the law by establishing qualified investment companies in China; fifth, support insurance institutions to explore the development of cultural and intellectual property insurance business The auto financing companies in the pilot Free Trade Zone carry out cross-border financing under the premise of compliance with the law.
Safe: explore and carry out the pilot project of the integration of domestic and foreign currency cross-border fund pool
Dingzhijie, director of the foreign exchange research center of the State Administration of foreign exchange, said that safe has seriously implemented the decision-making and deployment of the CPC Central Committee and the State Council, and actively promoted the reform and innovation measures of foreign exchange management in Beijing. After the State Council approved the plan of expanding the opening of comprehensive demonstration zone and free trade zone for Beijing construction service industry, it shall be deployed and implemented as soon as possible. The key points include:
In terms of cross-border trade, we will support the facilitation of foreign exchange payments of cross-border trade in Beijing free trade zone. Support qualified foreign trade comprehensive service enterprises to provide comprehensive foreign exchange services for cross-border e-commerce. To study and explore the exchange settlement mode of cross-border transfer of physical assets, so as to improve the settlement efficiency of foreign exchange funds. In addition, it provides support for talent employment, including facilitating the payment of foreign exchange for overseas employees of Chinese funded institutions in Beijing, and facilitating the purchase and settlement of foreign exchange for overseas high-end talents to handle personal family support payments and accompanying children to study.
In terms of direct investment, we will promote the facilitation of overseas investment by domestic institutions. We are studying the reform plan of qflp pilot project, further expand the scope of investment, simplify the registration procedures, facilitate the exchange of funds, explore the cross-border investment and financing management mode of private equity investment funds, and continue to support Beijing to attract more world-class investment institutions.
In terms of foreign debt, we will continue to promote the implementation of foreign debt facilitation measures.
First, further upgrade the foreign debt facilitation pilot policy of Zhongguancun National Independent Innovation Demonstration Zone, and assist the construction of Beijing Science and technology innovation center. The detailed rules for the implementation of the pilot project of foreign debt facilitation in Zhongguancun national independent innovation demonstration zone was issued, and qualified high-tech enterprises in the zone can enjoy the foreign debt facilitation quota of US $5 million. On this basis, the foreign debt facilitation quota for non-financial enterprises in Haidian Park will be increased from US $5 million to US $10 million. Up to now, 19 high-tech enterprises have enjoyed the policy dividend.
The second is to innovate the foreign debt management mode of enterprises. In the process of merger and transaction, the one-time foreign debt registration was piloted, and the management requirements of foreign debt registration of pilot enterprises were cancelled.
Third, the pilot project of cross-border transfer of non-performing assets will be carried out in Beijing. We will allow Beijing financial assets exchange to carry out cross-border transfer of non-performing bank assets, further revitalize non-performing bank assets and better support the development of the real economy.
Ding Zhijie said that in the next step, the safe will study and integrate the management of cross-border securities investment accounts, continue to promote the reform of foreign debt facilitation, explore and carry out the pilot cross-border fund pool of domestic and foreign currency, support the development of cross-border green finance, and further support the construction of comprehensive demonstration area and free trade zone for Beijings service industry.
Source of this article: Yang Bin, editor in charge of Shanghai Securities News_ NF4368