I am Shao Qing, an executive director at Morgan Stanley Securities (China) Co., Ltd. I graduated from Hefei University of Technology, majoring in industrial economics. Over the last decade after graduation, I started my career by preparing for a joint venture company and currently hold the majority shares of Morgan Stanley Securities. During this period, I have witnessed the global development of China’s financial industry, specifically the securities industry.

The history of China’s securities industry opening up can be traced back to the late 1980s and early 1990s. In 1990, China established its first stock exchange, namely the Shanghai Stock Exchange, marking the official opening of the national securities market. At that time, the securities market was dominated by domestic investors, with limited participation from foreign institutions.

In the 21st century, China’s securities market further expanded its accessibility to foreign institutions. In 2020, China has further eased the equity restrictions for foreign-funded securities companies.

Overall, the history of China’s securities industry opening up has undergone a process ranging from basically no foreign investment to gradually relaxed access restrictions. As China’s securities market gradually opens and reforms, foreign participation levels keep rising. This has continuosly elevated the China’s securities industry’s international cimpetitiveness and capacity to serve the real economy.

We must seize opportunities in the industry and work together to create a brighter future.