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Shanghai FTZ to Launch International Financial Asset Trading Platform

The Shanghai Stock Exchange recently announced the latest progress of its work of building an international financial asset trading platform in the Shanghai Free Trade Zone (FTZ). A preparatory team has been set up. It plans to complete the formation of the platform's operating agency and get the first batch of projects under way this year.

The Plan on Further Advancing the Financial Services Liberalisation and Innovation Experiments of the China (Shanghai) Pilot Free Trade Zone and Accelerating the Building of the Shanghai International Financial Centre announced in October last year further clarified the policy basis and main business of the international financial asset trading platform of the Shanghai FTZ. Proceeding from the country's strategic needs, the Shanghai Stock Exchange will fully leverage the advantages of the FTZ as an experimental platform for two-way opening-up, and explore scalable and replicable experience for the liberalisation and innovation of the capital market.

This platform in the FTZ has two core functions: First, it is an "open channel". The platform will not change the existing system and will make use of free trade accounts to achieve rapid connectivity between domestic and overseas markets. The platform will be designed as a gateway and "valve" for opening up to the outside world and have effective risk control. Second, it is an "experimental platform". Through institutional innovation, attempts will be made to conduct securities investment and financing business that cannot be conducted in the FTZ at present and accumulate experience for the further reform and liberalisation of the capital market in China. The Shanghai Stock Exchange said the preparatory team will expedite the formation of working procedures. It plans to complete the formation of the platform's operating agency and get the first batch of projects under way this year.

Content provided by Picture: HKTDC Research
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