The 1st Seminar on Capital Markets of the Belt and Road Initiative (BRI) Participating Countries organized by the China Securities Regulatory Commission (CSRC) was held in Shenzhen recently. This seminar represents a specific measure of intensifying the exchange and cooperation among the capital markets of countries along the BRI routes and a positive attempt to lay a solid foundation for furthering follow-up multilateral cooperation. More than 20 persons attended and shared their experience in market regulation and ideas on market development, including representatives of securities and futures regulatory institutions from Mongolia, Russia, Laos, Cambodia, Thailand, Malaysia and Bangladesh and key business staffs of relevant CSRC departments and units. Also present were officials of the CSRC International Affairs Department, the Shanghai Stock Exchange (SSE) and the Shenzhen Stock Exchange (SZSE).
An official of the CSRC Department of International Affairs said that the CSRC has always adhered to the guidance of Xi Jinping's Thought on Socialism with Chinese Characteristics for a New Era and earnestly implemented the requirements of the 19th CPC National Congress to steadily promote the opening-up of the capital market. It has kept strengthening the practical cooperation with the capital markets of the BRI participating countries, actively boosted the capital market to serve the BRI-related work, and explored to provide the BRI cooperation with high-quality financial services through various exchange and cooperation forms like equity cooperation, mutual product listing, connectivity, information sharing and personnel exchange. Encouraging progress has been made in relevant work. The CSRC will further display the role of the capital market and strengthen the efforts on financial guarantee in the principle of "advancing steadily and pragmatically"; in addition to facilitating exchanges' internationalization, it will encourage more powerful enterprises to "go global" through cross-border mergers and acquisitions and steadily expand their international market, thus enhancing their international competitiveness; and it will support high-quality China-invested enterprises listed abroad to involve in the acquisition and reorganization in domestic market and assist relevant countries and enterprises in issuing the BRI bonds on the SSE and the SZSE.
A SSE official said that under the unified deployment of the CSRC, the SSE has carried out relevant work from equity cooperation, accommodation of funds, information and data exchange, business cooperation exploration and other aspects, and supported the BRI cooperation with concrete actions. Next, the SSE will continue to facilitate the exchange, communication and cooperation with exchanges of the BRI participating countries to achieve mutual benefit and boost the development of capital markets.
During the 3-day seminar, the representatives have engaged in in-depth discussion on such cutting-edge topics as the innovative development of the capital market, the front-line regulation, the cooperation on cross-border law enforcement, the technical system management, the investor education, the bond market, the futures market and the registration and clearing system, and have shared the development conditions and regulation experience of their own capital markets to contribute ideas for the BRI cooperation. This seminar has been highly acknowledged by all representatives, as it is close to the reality and the regulation frontier and has displayed its role as an exchange channel and a mutual-learning platform.