China Opens B-Share Market to Domestic InvestorsChina will open its B-share market formerly reserved for overseas investors to domestic residents, the China Securities Regulatory Commission (CSRC) announced Monday.The new policy will allow domestic residents who hold foreign currencies to open B-share accounts and trade B shares. The detailed scheme is being worked on by the CSRC and relevant authorities, and will be implemented soon, the CSRC said. According to the CSRC, the policy adjustment is necessary due to obvious changes in the flow of foreign-currency capital in China. After nearly 10 years of development, there is also the necessity to change the orientation, principles and functions of the B-share market, said the national securities regulator. The commission noted that opening the B-share market to domestic investors will help promote the internationalization of China's capital market. The CSRC pledged to strengthen its market supervision and crack down on irregularities in the market to maintain the market order, prevent market risk and protect the interests of investors. |
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