China to build more open, inclusive capital market ecosystem: top securities regulator

China is to accelerate the implementation of a series of measures to build a more open and inclusive ecosystem of the capital market in the country, Wu Qing, chairman of China Securities Regulatory Commission (CSRC), said on Wednesday.

Addressing the opening ceremony of the 2025 Lujiazui Forum in the financial hub of Shanghai, Wu said foreign capital and foreign institutions are important participants in China's capital market.

He said the CSRC will continue to reform and deepen the all-round opening up of markets, products and institutions to promote efficient capital flows.

"In the near future, we will accelerate the implementation of a package of key measures for opening the capital market to foreign investment in 2025, which includes issuing a plan to optimize the qualified foreign institutional investor (QFII) system, further optimizing access management, arrangement for investment operations, etc. We will include more products into the scope of foreign investment transactions and expand the total number of futures and options products that can be traded by QFII to 100 as soon as possible," he said.

In his speech, Wu mentioned the launch of Chinese yuan foreign exchange futures and liquefied natural gas (LNG) futures and options.

"Together with the People's Bank of China, we will launch, on the basis of research, Chinese yuan foreign exchange futures to create favorable conditions for financial institutions and the real economy to better manage exchange rate risks. We will also work with other relevant parties to promote the listing of products such as liquefied natural gas futures and options. We will provide further convenience to various types of foreign capital participating in China's capital market and allow global investors to share China's innovation and development opportunities in a smooth and sufficient way," Wu said.

He also affirmed the significant role which listed companies have played in China's technological innovation.

In 2024, A-share listed companies' research and development investment reached 1.88 trillion yuan (262 billion U.S. dollars), accounting for more than half of the total research and development investment from the whole society. And the number of patents they own accounts for one third of the national total, Wu said.

"Private equity venture capital funds have participated in investment in 90 percent of the companies listed on the Science and Technology Innovation Board and the Beijing Stock Exchange, and more than half of the companies listed on the Growth Enterprise Market. The 'incubator' and 'accelerator' effects continue to be unleashed. The innovation ecosystem has been further constructed. A large number of listed companies have grown and become industry leaders or hidden champions, driving the collaborative innovation of upstream and downstream companies and scientific research institutions. In some fields, a vivid situation has emerged where all parties concerned are uniting efforts to tackle tough problems," he said.

The Lujiazui Forum was created in 2008 as a high-level global platform for government officials, world financial leaders and outstanding scholars to discuss and foster international financial cooperation and further the financial reform and market opening in China. Named after Lujiazui -- the financial district of China’s financial capital of Shanghai, the forum also symbolizes Shanghai’s vision of becoming a leading international financial center.

With the theme of "Financial opening up and cooperation for high-quality development in a changing global economy," the two-day 2025 Forum officially opened in Shanghai on Wednesday morning, gathering policymakers, regulators, and financial leaders from over ten countries and regions.

China to build more open, inclusive capital market ecosystem: top securities regulator

China's development has never been a "threat" to anyone but the source of growth advancing common development of all countries, Foreign Ministry spokesman Lin Jian said at a regular press conference in Beijing on Friday.

Some Western media and think tanks are peddling so-called "China Shock 2.0," saying that "China is achieving fast development in high-tech sectors such as renewable energy and AI and relies on foreign markets to absorb its overcapacity, thus reducing the market share of developed countries and sending more serious shock waves to the global economy compared with the era of traditional manufacture industry," while there are foreign commentators saying that the "China Shock 2.0" argument ignores the genuine innovation occurring within the Chinese industrial ecosystem and that Chinese export is the exact booster of the global economy that is needed in the turbulent period and more indispensable than ever.

Commenting on that, Lin said: "From the world's factory to the world's market and innovation powerhouse, China's development is achieved through strong performance driven by innovation and brings tangible cooperation opportunities and space to the world. High-quality Chinese products represented by the 'old three' of textiles, furniture and home appliances have stabilized the global industrial and supply chain, lowered the living cost of global consumers and eased the inflationary pressure worldwide. China's green production capacity represented by the 'new three' of electric vehicles, batteries and solar panels has bridged the gap between supply and demand in global green development and bolstered the global energy transition and low-carbon development. Moreover, China's high-tech products represented by the 'new new three' of robots, AI and innovative drugs have broken high-tech barriers and monopoly and enabled people in more countries to access affordable new technologies," said the spokesman.

"Openness and cooperation bring about progress and win-win result. China's development has never been a 'threat' to anyone but the source of growth advancing common development of all countries. What really creates 'shocks' to the world has never been the innovation of Chinese companies and efficiency of Chinese industrial capacity, but protectionist moves of setting up barriers, decoupling and severing industrial and supply chains. China will stay committed to high-standard opening up, defend the multilateral trading system and provide more certainty and new impetus to the world economy with its own steady development," said Lin.

China's development never a threat: FM spokesman