On September 25, 2024, at the headquarters of the State Securities Commission of Vietnam (SSC), Chairwoman Vu Thi Chan Phuong received Mr. Zhou Yi, CEO of Huatai Securities, a leading Chinese securities firm, along with a delegation of the company’s senior executives.
During the meeting, Mr. Zhou Yi shared that Huatai Securities is one of the largest securities companies in China, offering a comprehensive range of professional and diverse financial and securities services to both individual and institutional clients. Huatai Securities was among the first companies established with the emergence of the Chinese stock market and is listed on the Shanghai Stock Exchange (2010), the Hong Kong Stock Exchange (2015), and the London Stock Exchange (2019). The company has recently been granted a license to operate in the US market.
Mr. Zhou Yi, CEO of Huatai Securities, shares information at the meeting. Source: TT&QHCC
According to Mr. Zhou Yi, the Vietnamese stock market is an open and promising market for investment, and it is a key focus for foreign investors, including Huatai Securities’ clients, in the coming period.
“Huatai Securities wishes to contribute to the development of Vietnam’s capital market. In the future, Huatai Securities is ready to introduce, support, and advise many of its clients and partners to invest in the Vietnamese stock market,” emphasized the CEO of Huatai Securities.
With Huatai Securities’ experience and development in the Chinese and international markets, Mr. Zhou Yi believes that the company can share its expertise in trading systems, IT systems, and transaction security solutions with Vietnamese companies.
The representative of Huatai Securities also highly appreciated the supportive policies for foreign investors implemented by the Vietnamese securities market regulators in the past, including the issuance of a document relaxing the prefunding requirements. He expressed his hope to receive more information and support from the SSC during their investment journey in Vietnam.
Chairwoman of the SSC, Vu Thi Chan Phuong, speaks at the meeting. Source: TT&QHCC
In her remarks, Chairwoman Vu Thi Chan Phuong shared that the Vietnamese stock market has been developing for over 20 years and has made remarkable progress. The SSC has always focused on improving the legal framework, and the amendment and supplementation of the Securities Law and related documents have been constructed based on IOSCO principles, international practices, and the study of international experiences, including those of China.
The Chairwoman also mentioned that the Vietnamese stock market now comprises all essential components, including the stock market, a specialized bond market, and a derivatives market. The market capitalization currently stands at around 70% of GDP, with many large state-owned enterprises undergoing equitization and listing on the stock exchanges.
Additionally, the SSC has issued numerous regulations on risk management and sustainable governance for securities companies, following OECD standards. As a result, listed companies are required to publish sustainability reports according to ESG criteria. Concerning transparency, the SSC has also implemented several regulations related to the disclosure of financial statements and corporate governance reports in both Vietnamese and English for listed companies.
The Chairwoman further noted that the Minister of Finance had recently issued Circular No. 68/2024/TT-BTC dated September 18, 2024, abolishing the prefunding requirement. This move has received positive feedback from market participants, foreign investors, and international organizations. She affirmed that the SSC is always ready to support and share information on policies and mechanisms with foreign organizations investing in Vietnam.
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