Chinese regulator stresses capital market opening-up, risk prevention
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BEIJING -- China will continue to open up its capital market and keep an open, supportive attitude toward the set-up of institutions as well as the launch of businesses and products, the head of the country's securities regulator said Saturday.
"But at the same time, we must also pay attention to coordinating opening-up and risk prevention," said Yi Huiman, chairman of the China Securities Regulatory Commission, at a roundtable of the China Development Forum.
Yi warned against large amount of hot money running in and out, which would hurt the healthy development of the market and should be "strictly regulated."
He also urged cooperation with U.S. regulators to properly address the issues concerning China concept stocks as disagreements could only be resolved through negotiation.
Since China detailed nine measures to expand opening-up in the capital market at the Lujiazui Forum in Shanghai in 2019, vigorous policies have been rolled out to facilitate cross-border capital flows.
By the end of 2020, China had seen three consecutive years of net foreign capital inflows, with overseas investors' holdings of A-share assets topping 3 trillion yuan (about 460.8 billion U.S. dollars), according to Yi.
