国内证券业“走出去”:上市券商跨境业务扩容

The Internationalization of Domestic Security Firms

依托良好的政策环境,2018年以来上市券商获批试点开展跨境业务的节奏明显加快。从长期看,开展跨境业务是大型龙头券商国际化发展的客观需要和必然选择,但短期内难以见效。试点券商跨境业务规模受其净资本规模的约束,应当与净资本规模、内部控制和风险管理能力相匹配,以切实防范、控制跨境业务风险,促进跨境业务规范、稳健发展。

Relying on a favorable policy environment, the pace of listed companies approved to conduct cross-border business has accelerated significantly since 2018. In the long run, developing cross-border business is the objective need and inevitable choice for the internationalization of large leading securities firms, but it is difficult to achieve results in the short term. The scale of the cross-border business of the pilot brokers is constrained by the scale of its net capital, which should match the net capital scale, internal control and risk management ability to achieve dynamic equilibrium and effectively prevent or control crossborder business risks. It also puts forward strategies for pilot security houses to deal with crossborder business.