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Shanghai Supports Tech Enterprises with Strong Sci-Tech Attributes to List, Steadily Promotes Inclusion of REITs into Shanghai-Hong Kong Stock Connect
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The General Office of the Shanghai Municipal Peoples Government issued the "Several Opinions on Deepening the Development of Shanghai as a Global Asset Management Center", proposing to enrich the supply of fundamental financial market products. It will support technology enterprises with prominent sci-tech attributes to pursue listings and M&A, enhancing the technological content and asset quality of equity assets. The city will expand the scale of offshore bonds in the free trade zone, Magnolia bonds, Panda bonds and sci-tech innovation bonds, and promote balanced development of bond assets. Eligible asset management institutions will be supported to participate in Real Estate Investment Trusts (REITs) business, positioning Shanghai as the preferred venue nationwide for REITs product issuance and trading. It will expand the application of supply chain bills, accelerate the development of real estate trusts and equity trusts, and optimize the supply of alternative assets. The policy also calls for optimizing the Qualified Foreign Institutional Investor (QFII) regime and orderly expanding the range of futures and options products available for trading by qualified foreign investors. The Shanghai Qualified Foreign Limited Partner (QFLP) pilot program will be further refined by improving the "single-window acceptance" mechanism for entity establishment and enhancing cross-border investment facilitation. Eligible asset management institutions will be supported in utilizing the Qualified Domestic Institutional Investor (QDII) scheme to orderly meet investors cross-border investment needs. The efficiency of quota utilization under the Qualified Domestic Limited Partner (QDLP) pilot program will be improved to facilitate quota recycling. Efforts will be made to smooth domestic and overseas asset allocation channels. In accordance with national arrangements, mechanisms such as Shanghai-Hong Kong Stock Connect, China-Europe Connect and Bond Connect will be optimized, with REITs and other products to be steadily included in the Shanghai-Hong Kong Stock Connect eligible list. The issuance of Hong Kong mutual recognition funds will be supported, and ETF cross-listing and mutual recognition with more overseas markets will be promoted. Coordinated efforts will advance interconnection between the interbank and exchange bond markets with unified external opening. More designated futures and options products will be launched, and additional eligible existing products will be opened to overseas investors as designated products. Institutional opening-up of the gold market will be steadily expanded, supporting cooperation between Shanghai and Hong Kong gold markets. The opinions also emphasize strengthening digital and intelligent empowerment in the asset management sector. Asset management institutions are encouraged to leverage frontier technologies such as artificial intelligence, blockchain and big data to accelerate the development of intelligent investment research and advisory services, enhancing service efficiency. Support will be given to establishing pilot platforms for artificial intelligence applications in asset management. Institutions are encouraged to integrate data resources to provide high-quality data support for precise pricing and intelligent risk control. Innovative applications of digital RMB in securities, funds and bank wealth management will be explored. The development of new asset management service platforms will be supported to build an intelligent infrastructure for asset management and promote a transformation toward risk-driven and data-driven high-quality development. (jl/u) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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