BEIJING, Jan. 12 (Xinhua) -- China's stock market is likely to see an inflow of foreign capital totaling about 600 billion yuan (88.76 billion U.S. dollars) in 2019, a senior securities regulator predicted Saturday.

A net inflow of 300 billion yuan of foreign capital was recorded last year, Fang Xinghai, deputy head of the China Securities Regulatory Commission (CSRC) said at a forum, according to China Securities Journal.

Fang attributed the rosy prospects to global investors' confidence in the Chinese economy in the long term and increased access to domestic capital market thanks to stock connects and the inclusion of A-shares into global indices.

The CSRC will continue to introduce medium and long-term international capital into the Chinese stock market as well as the futures market, Fang said.

China rolled out a raft of steps in 2018 to open up its financial markets such as easing foreign ownership restrictions to 51 percent and then to 100 percent two years later.

Following the steps of UBS, several U.S., Japanese and European international investment banks are applying for a 51-percent stake in their Chinese joint ventures, and many have expressed a willingness for a 100-percent one later, Fang said, adding that the CSRC will lend a big hand to them.

Developing the capital market has become urgent and important for China to stabilize its macro leverage ratio and support innovation-driven growth, Fang said.