资本市场制度型开放向纵深迈进

Group 1 - The core viewpoint emphasizes the need for more robust measures to deepen the institutional opening of China's capital market, which will enhance market vitality and efficiency, laying a solid foundation for long-term stable development [1] - The current expansion of high-level institutional opening in China's capital market is characterized by systematic reforms in rules, management, and standards, facilitating high-quality mutual engagement between global capital and the Chinese market [1][2] - The China Securities Regulatory Commission (CSRC) has approved 13 foreign-controlled securities and fund institutions to operate in China during the 14th Five-Year Plan period, with over 900 Qualified Foreign Institutional Investors (QFIIs) now participating, and foreign ownership of A-shares reaching 3.4 trillion yuan [1][2] Group 2 - The approach of "dual empowerment and three-dimensional layout" aims to create a comprehensive development framework for institutional opening, promoting both "bringing in" and "going out" strategies [2] - The implementation of the overseas listing filing system has allowed 296 domestic companies to register for overseas listings, broadening financing channels and aligning Chinese regulations with international standards [2][3] - The CSRC has signed cooperation memorandums with 67 countries and regions, enhancing collaboration with foreign enforcement agencies to combat cross-border fraud and financial misconduct [3] Group 3 - The principle of "safety as the foundation, risk prevention as a priority" is crucial for establishing a risk "safety net" for institutional opening, ensuring that openness is pursued under safe and controllable conditions [3] - The CSRC aims to enhance regulatory precision and efficiency, keeping pace with trends in domestic and international capital market innovations, and strengthening risk monitoring and early warning capabilities [3] - The essence of institutional opening is to use transparent and predictable rules to facilitate capital flow, resolving conflicts through collaborative and inclusive mechanisms [4]