Advertisement
China stock market
BusinessChina Business

China’s top market regulator Wu Qing to speak at Lujiazui forum as investors look for clues on CSRC policy support

  • Wu will speak on how ‘high-quality financial development drives global growth’ at the two-day event, which starts on June 19 in Shanghai
  • Investors have high hopes for further policy support after China issued a sweeping nine-point blueprint in April

Reading Time:2 minutes
Why you can trust SCMP
1
China Securities Regulatory Commission Chairman Wu Qing attends a press conference on the sidelines of the National People’s Congress in Beijing on March 6, 2024. Photo: Reuters
Zhang Shidongin Shanghai
China’s top stock market regulator Wu Qing will deliver a keynote speech at the annual Lujiazui financial forum this month, drawing the attention of investors eager for clues on how he will further support the nation’s US$9 trillion market.
Advertisement
Wu will speak on how “high-quality financial development drives global growth” to mark the opening of the two-day gathering, which starts on June 19, according to the Shanghai government. It will be his first time at the conference, which is held in Shanghai’s Lujiazui financial zone, since he was abruptly appointed as chairman of the China Securities Regulatory Commission (CSRC) in February.

The CSRC will unveil capital market policies and measures during the forum, Wang Li, deputy director of the watchdog’s general administrative office, said at a briefing on Tuesday, without giving more specifics.

Investors have high expectations of further policy support for the stock market after China issued a sweeping nine-point guideline document in April that outlined a blueprint for the capital markets’ long-term development. The document focuses on factors including improvement in the quality of listed companies and cultivation of Chinese investment banks that can rival global giants.
People walk on an overpass past office towers in the Lujiazui financial district of Shanghai on October 17, 2022. Photo: Reuters
People walk on an overpass past office towers in the Lujiazui financial district of Shanghai on October 17, 2022. Photo: Reuters

Wu has issued a series of market-boosting measures to halt a three-year decline in stocks since he took office. Investors have returned to Chinese stocks after measures aimed at boosting shareholder values, such as encouraging share buy-backs and dividend payouts and weeding out listed companies of low calibre. The CSI 300 Index has risen 13 per cent from a February low.

Advertisement
Advertisement