The total quota for RQFII that allows foreign investors to use offshore yuan to buy mainland securities is now 270 billion yuan ($43 billion), compared with the initial 20 billion yuan set at the end of 2011.
Xia Yang, director of the securities department at UBS Securities in China, said QFIIs may get opportunities to invest in stock index futures this year, and develop fixed-income financial products.
The average PE ratio of the mainland stock market is not likely to be influenced by the increasing proportion of QFIIs, said Xia.
The CSRC statement said that in 2013 it will focus on expanding institutional investors, allowing qualified securities companies, insurance companies and private equities to participate in the wealth management sector.
"We will encourage more long-term overseas investors, including pension funds, welfare funds and sovereign funds into the domestic market," it said.
Guo also highlighted the need to speed up the innovation of futures products by improving research on iron ore and coal futures. A pilot trading market of carbon emission rights is being studied.
This year, the pilot equity transfer program for non-listed small and medium-sized enterprises, or the new over-the-counter market, will continue to expand, to support the growth of the private sector, the CSRC said.
In addition, the commission will put more effort into reforms of the initial public offerings issuance and delisting procedure.
"The regulation on intermediaries, such as the underwriters and accounting companies, will be strengthened," the commission said.
chenjia1@chinadaily.com.cn
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