Fund and foreigners net stock buyers
By Verain Ye |
January 23, 2013, Wednesday
|
Print Edition
Print Edition
THE national security fund and foreign investors were the two biggest net buyers of Chinese mainland shares last year, the top securities regulator said yesterday.
The National Council for Social Security Fund last year bought a net 42.8 billion yuan (US$6.9 billion) worth of mainland-listed shares while foreign investors participating under the Qualified Foreign Institutional Investors (QFII) program purchased shares valued at 42.7 billion yuan, Guo Shuqing, chairman of the China Securities Regulatory Commission, said.
The CSRC has accelerated the opening up of China's capital market by raising the foreign investment quota, speeding up the approval process and lowering investment threshold as it bids to attract more foreign institutional investments and help reduce market volatility.
Guo said last week that China can raise as much as 10 times the investment quotas for QFII and Renminbi Qualified Foreign Institutional Investment (RQFII) programs that allow foreign investors to invest in the domestic stocks.
Speaking at a national securities and futures supervision meeting in Beijing yesterday, Guo said the CSRC is ready to intervene in the domestic stock market using administrative measures when necessary.
"China's stock market is still not mature," Guoa said, warning the market is "not a playground for low-income individuals or those who rely on mere retirement pension for life."
"It's a good phenomena that some retail investors have cancelled their trading accounts," Guo said.
The National Council for Social Security Fund last year bought a net 42.8 billion yuan (US$6.9 billion) worth of mainland-listed shares while foreign investors participating under the Qualified Foreign Institutional Investors (QFII) program purchased shares valued at 42.7 billion yuan, Guo Shuqing, chairman of the China Securities Regulatory Commission, said.
The CSRC has accelerated the opening up of China's capital market by raising the foreign investment quota, speeding up the approval process and lowering investment threshold as it bids to attract more foreign institutional investments and help reduce market volatility.
Guo said last week that China can raise as much as 10 times the investment quotas for QFII and Renminbi Qualified Foreign Institutional Investment (RQFII) programs that allow foreign investors to invest in the domestic stocks.
Speaking at a national securities and futures supervision meeting in Beijing yesterday, Guo said the CSRC is ready to intervene in the domestic stock market using administrative measures when necessary.
"China's stock market is still not mature," Guoa said, warning the market is "not a playground for low-income individuals or those who rely on mere retirement pension for life."
"It's a good phenomena that some retail investors have cancelled their trading accounts," Guo said.
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