Xinhua Times Review|Improve the overseas listing supervision system and continue to make good use of two resources

The 30th meeting of the Political Bureau of the CPC Central Committee proposed to improve the regulatory system for overseas listing of enterprises. This deployment is not only a practical measure for China to continuously improve the relevant regulatory system and standardize the behavior of relevant enterprises in response to changes in the situation, but also reflects China’s firm determination to continue to make good use of the two resources and promote opening up.

Overseas listing is an independent choice made by enterprises based on their own development needs. No matter where it is listed, a listed company must comply with the relevant laws, regulations and regulatory requirements of the place of listing and business. Under this premise, China supports enterprises to use two markets and two resources for financing development in compliance with laws and regulations. This open attitude will not change.

At the same time, we must also be aware that with the profound changes in the global economic and financial situation, new models and new technologies based on enterprise development are emerging in an endless stream, and new requirements are put forward for the industry and market supervision of overseas listed companies, which are also commonly encountered internationally. The new situation and new problems in China must be dealt with in a good manner in relation to the relationship between openness and security. Adapting to changes in the situation, improving the regulatory system for overseas listing of enterprises, and standardizing the behavior of related enterprises are due measures to promote the standardized development of overseas listing of enterprises, and will help prevent and resolve related risks.

Improving the regulatory system for overseas listing of enterprises is a systematic project. It is necessary to further strengthen the overall coordination between departments, to more scientifically define the scope and standards of policy implementation, and to promote the implementation of regulatory measures more steadily. As the global financial market is becoming more and more closely connected, financial regulatory agencies in various countries need to strengthen regulatory cooperation and policy communication, and jointly provide the market with a good policy expectation and institutional environment.

It should be noted that the improvement of the regulatory system for overseas listing of enterprises is proposed in the context of China’s firm promotion of opening up to the outside world. In recent years, China’s capital market has been opening up steadily, and the participation of overseas financial institutions and investors has increased. Overseas listing is an important part of the two-way opening of China’s capital market, and it should also reflect the requirements for high-quality development.

In the future, the global economic and financial situation will still face greater uncertainty, but China will further open its door to opening up, sharing development opportunities with other countries in the world, and the level of China’s capital market opening to the outside world will surely increase steadily. (Reporter Liu Hui)