BEIJING, July 3 (Xinhua) -- At a time when the rising tide of protectionism threatens to jeopardize global economic recovery, China has moved steadily to deliver its promise of wider opening-ups.
On Tuesday, Premier Li Keqiang reiterated that the country will become more open, transparent and predictable for foreign investment, and its business environment will further improve.
"China will unswervingly promote opening-up on all fronts," Li said at the opening ceremony of the Annual Meeting of the New Champions 2019, also known as the Summer Davos Forum, in the city of Dalian.
The following are some of China's financial opening-up moves taken in the first half of the year.
-- Launching crude oil futures index
China's Shanghai Futures Exchange in March launched the crude oil futures index, aiming to provide a clearer market reflection of the futures' continuous trading to investors at home and abroad.
According to the Shanghai International Energy Exchange (INE), a unit of the Shanghai Futures Exchange, it has registered 52 overseas agencies mainly from Hong Kong, Singapore, Britain, the Republic of Korea and Japan, which serve customers from Britain, Australia, Switzerland, Singapore, Cyprus, Seychelles, as well as Hong Kong and Taiwan.
-- Shanghai-London stock connect
The Shanghai-London Stock Connect program opened for trading on June 17 and Nanjing-based Huatai Securities became the first Chinese company to be listed in Britain via the long-awaited mechanism.
Under the mechanism, Shanghai-listed companies can list on the London Stock Exchange via the Global Depositary Receipts (GDRs) issuance, while British companies can issue China Depositary Receipts (CDRs) on the Shanghai Stock Exchange.
The mechanism would be of far-reaching significance to expand channels for cross-border investment and fund-raising, boost the development of both countries' capital markets and encourage the building of Shanghai into an international financial hub, according to the China Securities Regulatory Commission.
-- China-Japan ETF connectivity scheme
The connectivity scheme for Exchange Traded Funds (ETF) products between China and Japan was officially launched on June 25.
Under the China-Japan ETF Connectivity scheme, investors will be allowed to buy into exchange-traded funds to participate in the trading of stocks listed in their respective markets.
-- New negative lists
China on June 30 rolled out revised negative lists for foreign investment market access, introducing greater opening-up and allowing foreign investors to run majority-share-controlling or wholly-owned businesses in more sectors.
The two lists, one for the piloted free trade zones (FTZ) and one for the rest of the country, contain fewer access-limiting measures. Pilot FTZs now have 37 listed items for foreign investors, down from 45, while non-FTZ areas are required to implement 40 items instead of 48.
The negative lists for market access outline sectors, fields and businesses off-limits for investors. Industries, fields and businesses not on the lists are open for investment to all market players. Chinese authorities revise the negative lists for market access on an annual basis. The 2018 versions were released last December.