The CSRC's International Advisory Council (IAC) convened for its 13th meeting in Beijing on November 27th & 28th, 2016. Chinese Vice Premier Ma Kai met and exchanged views with the IAC members on important issues of common concern. CPPCC Vice Chairperson and Governor of the People's Bank of China (PBC) Zhou Xiaochuan was invited to the meeting and delivered the keynote speech.
Moderated by IAC Chair Sir Howard Davies and Vice Chair Mrs. Laura M. Cha, this year's meeting theme was "Internationalization of China's Capital Markets: Opportunities and Challenges". From the CSRC side, present at the meeting were Chairman Liu Shiyu, Vice Chairman Li Chao, Vice Chairman Fang Xinghai, Assistant Chairman Huang Wei and Assistant Chairman Xuan Changneng, as well as heads of relevant departments and affiliated institutions. The participants held thorough discussions on development trends and emerging risks in international financial markets, benefits of open capital markets for the Chinese economy, means to enhance the strength and global competitiveness of China's securities and futures industries, and regulatory considerations for the next phase of opening up. The meeting culminated in a set of important and timely recommendations on the reform and development of China's capital markets.
Established in June 2004 upon the approval of the State Council, the IAC serves as the think tank of the CSRC, offering advice and recommendations. Consisting of regulators, financial experts and academics from home and abroad, the IAC meets annually to provide input into the CSRC's efforts in drawing experiences from international markets, enhancing international exchanges, and promoting the opening up and steady development of China's capital markets.