CSRC seeks Qatar-China capital market consolidation

November 13, 2012 - 7:01:58 am

Rashid bin Ali Al Mansoori (left) handing over a memento to Jiang  Yang.

DOHA: A top executive of China Securities Regulatory Commission (CSRC) has stressed the need for further bolstering Qatar-China bilateral relation to consolidate the capital markets.

The visiting delegation headed  by Jiang  Yang, Vice Chairman of the CSRC and Yang Maijun, Chairman of the Board of the Shanghai Futures Exchange yesterday noted the strengthening of the capital markets could attract more foreign investments to both the countries.

The Chinese delegation visited Qatar Exchange (QE) and met Rashid bin Ali Al Mansoori, CEO of Qatar Exchange, and several department directors of QE.  

“China is such an important global market place for Qatar and by having the delegation visit the Exchange shows the importance of dialogue and discussion in moving the relationship between the entities forward.  We look forward to a long and mutually beneficial working relationship with both the Shanghai Futures Exchange and the China Securities Regulatory Commission”, Al Mansoori said.

He also stressed the importance and necessity of mutual cooperation between the two markets and briefed the delegation on QE and its various initiatives that have been ongoing in an effort to transform QE from a local exchange into a regional exchange.

Al Mansoori stated that QE went on various development stages, especially after signing the strategic partnership with NYSE Euronext. He also explained the latest initiatives that QE persisted in its efforts to be in line with the largest and most advanced exchanges in the world through introducing new diversified traded products, enhancing the technological infrastructure and developing legislative framework in order to provide different investors with diversified investment tools, including the ETF’s and REIT’s and enhance the principles of transparency in the market in preparation for the anticipated development in Qatar’s capital market . 

Yang briefed the Qatari management on the Chinese capital market and the role of the CSRC in providing regulatory function for the securities market.   He stated that the daily trading volume in the Chinese securities market is over $20bn in which the individual trading volume accounts for about 80 per cent. There are 2600 companies listed in two exchanges, along with more than 100 brokerage companies and 60 fund management companies.  

CSRC is China’s nationwide centralized securities supervisory system. The CSRC formulates policies, laws and regulations concerning markets in securities and futures contracts and oversees issuing, trading, custody and settlement of equity shares, bonds, investment funds.

The Peninsula