SHANGHAI, Sept. 29 (Xinhua) -- The China Securities Regulatory Commission (CSRC), the country's top securities regulator, has issued a package of policies to support the capital market in the Shanghai pilot free trade zone (FTZ), officials said on Sunday.
Qualified individuals and units, including financial institutes and companies, in the FTZ will be allowed to invest in both domestic and foreign fund markets, said Dai Haibo, deputy director of the zone's administrative committee, citing a CSRC statement.
The CSRC has also approved a plan to build an international crude oil futures trading platform, while foreign companies in the zone will be allowed to issue Renminbi bonds.
Other measures include allowing securities and futures companies in the zone to set up subsidiaries and do over-the-counter trading in staple commodities and financial derivatives for domestic customers, Dai said.
China on Sunday opened a pilot free trade zone in Shanghai, which will be a test bed for a wide range of market-oriented reforms, including easing restrictions on finance, investment and trade, a move widely hailed as a crucial step in the country's reform and opening up.
News Analysis: Shanghai FTZ outlines roadmap of China's new reform drive
BEIJING, Sept. 29 (Xinhua) -- By officially launching its first free trade zone (FTZ) in Shanghai on Sunday, China is unveiling a new economic reform path in the post-financial crisis era
Global observers have hailed the FTZ as the country's most significant reform push since the creation of Shenzhen Special Economic Zone more than three decades ago, and a "weather vane" for realizing the new leadership's vision for "season two" of China's economic miracle. Full story
Eight supports for Shanghai FTZ banking
BEIJING, Sept. 29 (Xinhua) -- China Banking Regulatory Commission (CBRC) announced eight measures on Sunday to support banking in the Shanghai pilot free trade zone (FTZ).
According to a CBRC's statement, Chinese-funded banks can establish branches and upgrade outlets in the FTZ, officially launched on Sunday, without the standard yearly limit for newly opened banks. Full story
Shanghai free trade zone begins operation
SHANGHAI, Sept. 29 (Xinhua) -- The Shanghai pilot free trade zone (FTZ) started operating Sunday, launching a test bed for the Chinese leadership's drive of deepening market-oriented reforms and boosting economic vitality.
Located on the outskirts of the city where the Yangtze River empties into the East China Sea, the zone is set to explore new ways of reducing government interventions and opening the Chinese economy wider to global investors. Full story