China News Agency, Beijing, May 26 (Reporter Chen Kangliang) The China Securities Regulatory Commission announced on the 26th that in order to implement the work deployment related to expanding the opening of the futures market to the outside world, the China Securities Regulatory Commission recently approved Morgan Stanley (Morgan Stanley) in Beijing according to law. Morgan Stanley Futures (China) Co., Ltd. was established in Beijing.
According to the information previously disclosed by the China Securities Regulatory Commission, Morgan Stanley’s “Futures Company Establishment Permit” has entered the stage of receiving materials on April 3, 2023. Earlier, in the list of qualified personnel for the professional ability evaluation test of futures company executives announced by the China Securities Regulatory Commission, the names of three proposed executives of Morgan Stanley Futures (China) Co., Ltd. appeared, respectively. Hu Qian, chairman of the board of supervisors, Wei Wei, general manager, and Xu Zhongping, chief risk officer.
In recent years, the opening-up process of China’s futures market has continued to accelerate. With the gradual liberalization of restrictions on foreign shareholding in the futures industry, foreign-funded futures companies have developed rapidly. In June 2020, the China Securities Regulatory Commission announced that JPMorgan Chase Futures was legally approved as the first wholly foreign-owned futures company in China.
Liu Gongrun, deputy director of CEIBS Lujiazui International Finance Research Institute, said that the accelerated opening of China’s financial market is the general trend, and the commodity futures and financial derivatives markets naturally have special international characteristics.
The person in charge of the relevant department of the China Securities Regulatory Commission stated on the 26th that in the next step, the China Securities Regulatory Commission will continue to deepen the opening up of the futures market, support qualified foreign institutions to invest in domestic futures companies, continuously improve the quality of futures market operations, and serve the high-quality development of the real economy. (over)