China to further open A-shares market to foreign investors
China will further open its A-shares market to foreign investors, the country's top securities regulator said Sunday.
Foreign individuals working in the Chinese mainland, and those who work overseas at companies listed on the A-shares market and enjoy equity incentives, will be allowed to open A-shares securities accounts, according to a statement on a draft rules revision released by the China Securities Regulatory Commission (CSRC).
The securities regulatory body of the countries of qualified foreigners should have already established a regulatory cooperation mechanism with the CSRC, the statement said.
"The move is significant in expanding the financing channel of the stock market, optimizing structure of the capital market and lifting the level of opening up and internationalization of the capital market," the CSRC said.
The CSRC will solicit public opinions on the draft rules and release the revised rules following procedures. Related tax and foreign exchange policies will also be released to support the rules.