In a keynote at the Financial Street Forum, the China Securities Regulatory Commission set out its next-stage capital market reform agenda, headlined by the formal launch of an optimisation work plan for the Qualified Foreign Investor regime and the publication of opinions containing 23 measures to strengthen protection for small and medium investors. The Qualified Foreign Investor package covers streamlined market access, higher investment operating efficiency and a wider investment scope, including immediate implementation of a one-stop process for qualification approval and account opening and a green channel for allocation-type foreign investors. The investor protection opinions focus on safeguards across issuance, listing and delisting, a fairer trading environment, stronger client service by industry institutions, and expanded multi-track dispute resolution mechanisms for securities and futures disputes. On 28 October, the STAR Market Sci-Tech Growth Layer is set to see its first newly registered companies list, with the trial of seasoned professional institutional investors and a pre-review mechanism already in place under the STAR Market “1+6” measures announced in June. The CSRC also flagged plans to launch a further deepening of ChiNext reform with listing standards better tailored to emerging and future-industry innovators, continue high-quality development of the Beijing Stock Exchange and the National Equities Exchange and Quotations, introduce a refinancing shelf-offering regime when conditions permit, broaden support channels for mergers and restructurings, advance public fund reform and long-horizon assessment for enterprise annuities and insurers, and strengthen cross-market and cross-border risk monitoring and enforcement while improving connectivity mechanisms and overseas listing filing efficiency.
China Securities Regulatory Commission 2025-10-27
China Securities Regulatory Commission rolls out Qualified Foreign Investor regime optimisation plan and 23-measure package to protect small investors
The China Securities Regulatory Commission outlined its capital market reform agenda at the Financial Street Forum, including an optimisation plan for the Qualified Foreign Investor regime and 23 measures to enhance small and medium investor protection. Key initiatives include streamlined market access, improved investment efficiency, and expanded dispute resolution mechanisms. The CSRC also plans to deepen ChiNext reform, enhance the Beijing Stock Exchange, and strengthen cross-market risk monitoring.