China Securities Regulatory Commission: Chinese and American regulatory authorities should strengthen communication on the issue of Chinese concept stocks and find solutions

 SFC website

2021-08-01 13:13

On August 1, the spokesperson of the China Securities Regulatory Commission answered reporters' questions.

Q: Recently, the U.S. Securities and Exchange Commission (SEC) issued a statement that increased the information disclosure requirements for Chinese companies to list in the United States. Does the China Securities Regulatory Commission have any comment on this?

Answer: The capital markets of China and the United States, as important markets in the world, are increasingly closely related to each other. More and more companies, investors, and financial institutions are participating in each other's markets. Strengthening regulatory cooperation is an inevitable choice. We have taken note of the relevant statements of the US Securities and Exchange Commission (SEC), especially the new requirements for information disclosure regarding listings. The regulatory authorities of the two countries should continue to uphold the spirit of mutual respect and win-win cooperation, strengthen communication on the supervision of China's concept stocks, find proper solutions, and create a good policy expectation and institutional environment for the market.

We have always been open to companies choosing where to go public, and support companies to choose international and domestic markets in compliance with laws and regulations. No matter where an enterprise is listed, it should comply with the relevant laws, regulations and regulatory requirements of the place of listing and operation. At present, the Chinese competent authorities conduct standardized management of relevant industries with the aim of coordinating development and safety, and promoting the sustainable and healthy development of market entities. In the process of formulating and implementing the system, the China Securities Regulatory Commission will communicate closely with relevant departments to further coordinate the relationship between investors, enterprises, and regulators, and further improve the transparency and predictability of policy measures.

China's basic national policy of advancing reform and opening up is unswerving, and the intensity of financial opening to the outside world will continue to increase. In the next step, we will continue to introduce more pragmatic opening-up measures to promote the high-quality development of China's capital market.

Since the beginning of this year, China's economy has continued to recover steadily, with stability and improvement, a large number of outstanding enterprises have flourished, and the number of high-quality investment targets in the capital market has continued to increase. As long as the listed company's operating conditions are good, the quality is high, and the ecology is constantly improving, it will naturally be favored by investors. Our judgment on the prospects of China's capital market is predictable and sustainable and healthy development.