Top Chinese securities officials urged international investors to come to China and see its determination towards growing the economy as they dismissed concerns over where economic growth ranks among the priorities of the country’s reshuffled leadership. “I deal with international investors quite a lot in my daily work and I’m afraid some of them have read too much the international media reports about events in China,” Fang Xinghai, vice-chairman of the China Securities Regulatory Commission (CSRC), said in pre-recorded video remarks on the second day of the three-day Global Financial Leaders’ Investment Summit in Hong Kong . “A lot of media reports, I would put it this way, don’t understand China very well, and they have a short-term focus. I would otherwise invite the international investors to find out what’s really going on in China and what is the real intention of the government by themselves.” Fang’s remarks came after stocks in Hong Kong, Shanghai and Shenzhen plunged after President Xi Jinping secured a third five-year term at the Communist Party’s recent national congress , stoking concerns that market-unfriendly policies such as zero-Covid and the “three red lines” policy governing borrowing by property developers will endure. The Hang Seng Index suffered its worst month since 2008 in October and has plunged 35 per cent this year, leaving its 73 members trading at a record 40 per cent discount to book value. Liu Jin, the president of Bank of China, speaking during another summit panel on Wednesday, also asked investors not to put too much stock in negative news. While the world is facing many uncertainties, it is certain that “China’s economy is coming back,” Liu said. “That’s what we are seeing.” Market-based reforms and opening up of the economy are fundamental, unchanged policies in the country, and its capital market is open to international investors, Fang said. “We opened up our capital markets because that is good for China,” he said. “China has a huge market and we have a lot of investors, but we do not have enough high-quality institutions, [including] securities firms, futures brokers and fund managers. By attracting first-class international players into the market, it’s very good for China.” John Lee urges global banks to ‘get in front’ as Hong Kong roars back By joining China’s capital market, international participants can share in China’s development, Fang said. “That is our vision, and that is President Xi’s vision, that we want to share China’s growth with the rest of the world,” he said. Various Chinese authorities have voiced their commitment to preserving financial stability to calm the market. “The strengthening trend of the renminbi remains unchanged,” the China Banking and Insurance Regulatory Commission said in a statement on October 25, adding that the Chinese economy’s trade surpluses and net foreign direct investments provide a strong basis for a stable yuan. The regulator said it will be on guard against systemic financial risks. China’s central bank said on the same day that it would ensure healthy capital markets, while regulators overseeing the banking, insurance and stock markets said securities remained good long-term investments. Inflation, geopolitical tensions big risks for global economy: top bankers “International investors should read more carefully about the working report that President Xi delivered at the recent 20th party congress,” Fang said. “We are fully focused on economic growth. “President Xi emphasised the centrality of economic growth during the party congress. That has been the case in China and will continue to be the focus for China for the foreseeable future.”