In 2019, the pace of China's financial market opening to the outside world is getting faster and faster.
On June 17, 2019,”Shanghai-London stock connect”was officially launched. “Shanghai-London stock connect”is first Global Depository Receipt (GDR) product issued by Shanghai Stock Exchange listed company Huatai Securities Co., Ltd. was listed on the same day on the London Stock Exchange. It should be noted that “Shanghai-London stock connect” is essentially different from “Shanghai, Shenzhen and Hong Kong stock connect” Shanghai and Hong Kong Stock Exchange is the direct trading of stocks between investors in each other's markets, and "investors" cross-border while "products" do not cross-border; while “Shanghai-London stock connect” converts the stocks in the other's market into DR and lists them in the local market, and "products" cross-border, but "investors" do not cross-border.
Since last year, ETF products have become the best investment products and methods in the whole financial market. ETF has developed rapidly in China. Competition is also getting fiercer. Overseas financial institutions have also increased their investment. On the morning of June 25, 2019, the Shanghai Stock Exchange held the opening ceremony of China-Japan ETF interchange. Four Sino-Japanese ETF interchange products were successfully listed on the Shanghai Stock Exchange. In Tokyo, Japan, the Tokyo Stock Exchange also welcomed a group of special Chinese guests. The opening ceremony of ETF exchange between China and Japan was held simultaneously. Yifangda Nikkei Nikkei 225ETF, Huaxia Nomura Nikkei 225ETF, South Peak TOPIX ETF and Huaan Mitsubishi Nikkei 225ETF, the first four ETF exchange products are listed and traded.
In May 2018, Wang Chunying, Director of Balance of Payments Department of the State Administration of Foreign Exchange, wrote in China Foreign Exchange that the State Administration of Foreign Exchange would write in China Foreign Exchange that Wang Chunying, Director of Balance of Payments Department of the State Administration of Foreign Exchange, would broaden the scope of transactions, enrich trading tools and expand the market. Focusing on market participants, promoting opening to the outside world, improving infrastructure and improving market supervision, we will continue to promote the deepening development of the foreign exchange market and provide strong support for the stable and healthy development of the economy and society. This means that the long-awaited foreign exchange derivatives market at home and abroad will gradually open up.
In the first four months of this year, the total turnover of the foreign exchange market in China was 70.79 trillion yuan (equivalent to 10.51 trillion US dollars). In the first quarter of this year, the total turnover of the foreign exchange market in China increased by about 33% over the same period last year.
The Fourth China Derivatives Focus Summit will be held in Shanghai from September 26 to 27. Our activities will gather well-known financial institutions at home and abroad (banks, insurance, securities, funds, exchanges, futures, foreign exchange brokers), focusing on foreign exchange derivatives and ETF products for learning and exchange!