China’s top securities regulator plans to expand foreign access to the capital market and lower fundraising thresholds for tech firms. Wu Qing, CSRC chairman, emphasizes the need for a transformative regulatory environment to attract long-term funds. The move aims to boost investor confidence amid market volatility and speculation about Wu’s resignation.

Amid a challenging external environment, China focuses on hi-tech industries to secure its global supply chain. Following a US-China trade detente, Trump warned of additional tariffs if talks fail. A bipartisan group of US senators unveiled a bill to restrict Beijing’s access to advanced semiconductors, while the EU maintains duties on China-made electric vehicles.

The Shanghai Composite Index hit a 10-year high, driven by improved company fundamentals and a US-China trade truce. The CSRC aims to support hi-tech firms’ listing by reforming the Star Market and ChiNext board. Wu Qing’s public appearance following rumors of his resignation aimed to prevent market destabilization.

China’s benchmark index closed below the 4,000 threshold, with the Star Market 50 Index edging up. The regulator’s announcement underscores the importance of supporting tech companies to enhance capital flows. Amid ongoing US-China tensions, Beijing doubles down on hi-tech industries, while the tech war escalates with US senators seeking to restrict Beijing’s access to advanced semiconductors.

Read more at Yahoo Finance: CSRC vows deeper reforms to open China’s capital market and boost tech listings