Fang Xinghai, vice chairman of the CSRC: China's capital market has maintained a stable development trend

"Generally speaking, China's capital market has maintained a steady development trend. IPO and secondary market transactions are very active, showing strong market vitality and toughness." Recently, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, is in the first place. At the three sessions of China -Japan Capital Market Forum, since the beginning of this year, in the face of the impact of multiple super -expected factors, the China Securities Regulatory Commission has fully implemented the new development concept, adhered to the general tone of work in stability, and continuously strengthened the play of multi -level capital market functions. , Steadily promote the preparations of the comprehensive implementation of the registration system and the construction of the market basic system, and continuously expand the high level of opening up.

Fang Xinghai said that the China Securities Regulatory Commission has always attached a matter of pragmatic cooperation with capital markets including Japan. Since the 2nd China -Japan Capital Market Forum in January last year, multi -level and multi -form exchanges and cooperation between the capital markets of China and Japan have continuously expanded.

At the level of regulatory agencies, the China Securities Regulatory Commission and the Japan Financial Department maintain good supervision and exchange and law enforcement cooperation, conduct discussions and share experiences around the issue of market development and reform that the two parties are concerned about, and also participated in the mechanism dialogue and consultation between the two governments of the two countries. Essence

At the exchange level, the cooperation between the Securities and Futures Exchange of the two countries has made many new progress. The second batch of east -west two -way products under the ETF interoperability project of China and Japan was launched in April 2021. The Shenzhen Stock Exchange and the Japanese Stock Exchange cooperate with the ETF -based interoperability, and have taken new steps in the aspects of joint public welfare investment and education services and market information cross -display. It has promoted the deepening and mutual understanding of investors of the two countries, and serving the market for two -way two -way investment in the two countries. The cooperation between CICC and the Japanese Stock Exchange in the field of derivatives has been steadily launched. Recently, a memorandum of understanding of cooperation is signed. It will develop partnerships, strengthen information sharing, and explore cooperation opportunities under the memo framework.

At the level of industry associations, the China Securities Investment Fund Industry Association and the Japan Investment Trust Association have conducted a good study on the investment system of the two countries, laying a good foundation for the two parties to expand cooperation in the field of investment funds. In terms of the capital market's response to aging challenges, the China Securities Industry Association will share the research results later. I hope that the two parties will continue to strengthen exchanges on important issues that the two countries are concerned about.

It is reported that with the joint cultivation of both parties, the cooperation between China and Japan's capital market has continued to advance in multiple dimensions such as markets, institutions, and products, and the results are continuously enriched. Up to now, the two batches of the two batches of the China -Japan ETF interoperability project have a stable operation and good income. There are 2 Japanese holding securities companies and 3 Japanese -share fund management companies in China. Institutions (QFII) qualifications can develop securities and futures investment in China.

Fang Xinghai said that in the next step, it is hoped that the capital markets of the two countries will continue to deepen multi -level exchanges on the basis of existing cooperation and strengthen all -round cooperation. Looking forward to the exchanges of the two countries under the framework of the cooperation forgiveness, further improve exchanges and communication, explore cooperation opportunities, fully tap the potential of mutual benefit, mutual benefit, and complementarity of the capital market between the two countries, promote the steady development of the ETF interoperability project, and continuously expand the new field of pragmatic cooperation. It is hoped that the industry associations of the two countries will strengthen mutual learning, enhance understanding, deepen friendship, and carry out multi -form exchanges and cooperation, and jointly study and improve the service quality and efficiency of the securities and futures fund industry.

"We sincerely welcome more Japanese investors and high -quality financial institutions to come to China to invest in the exhibition industry to grow up, cooperate and win a win -win development, and serve the healthy and stable development of the capital markets between the two countries." Under the double -multilateral framework, exchanges and cooperation are improved, and communication and cooperation should be strengthened on the regulatory dynamics and challenges of the capital markets of the two parties, providing supervision guidelines for the pragmatic cooperation between the capital markets of the two countries.

"China and Japan are near neighbors, and the economic relations are very deep and close. The securities market between the two countries is large and the complementarity is very strong." Fang Xinghai proposed that the China -Japan capital market cooperation should be discussed, continuously promoted, and accumulated more. It is believed that it will make important contributions to the good development of the capital market between the two parties. (Wu Xiaolu)

(Editor in charge: Chang Shuai Shuai)

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