China Securities Journal's website | Qiu Yong from SSE: Strong Investment Prospects in the Chinese Market Encourages Continued Participation by Global Investors

Translated from China Securities Journal's website 

On November 15, 2023, Qiu Yong, Chairman of the Shanghai Stock Exchange (SSE), said at the Shanghai Stock Exchange Global Investors Conference 2023 that at present, the long-term positive fundamentals of China's economy have not changed, the potential for economic development is still great, and the foundation and conditions for high-quality development are constantly enhanced, presenting strong investment prospects in the Chinese market.

According to Qiu Yong, as of the end of October 2023, the rolling P/E ratio of the SSE composite index was 12.6 times. Compared with overseas markets, the A-share market is at a low valuation level and is attractive globally. In 2022, the cash dividend of SSE-listed companies was RMB 1.7 trillion yuan, with a dividend rate of 3.1%, higher than that of the U.S. stock market. On July 24, 2023, the meeting of the Political Bureau of the CPC Central Committee put forward the task of "invigorating the capital market and boosting investor confidence". A series of policies to invigorate the capital market were introduced, with coordinated efforts on investment, financing, trading and reform. As these policies gradually take effect, market vitality and market confidence continue to grow.

"We look forward to working together with all parties to create opportunities in opening up, solve problems through cooperation, continue to strengthen high-quality financial services, steadily expand the high-standard opening up of the capital market, and better promote high-quality development. We also warmly welcome investors from all over the world to continue to participate and invest in the Chinese market, jointly build an open, inclusive and efficient market ecology, and share the dividends of China's high-quality economic development." Qiu Yong further said.