Current location:Cultural Current news portal > health
China to strengthen capital market regulation, risk prevention
Cultural Current news portal2024-05-21 07:33:20【health】1People have gathered around
IntroductionChina's State Council has released a guideline on strengthening regulation, forestalling risks a
China's State Council has released a guideline on strengthening regulation, forestalling risks and promoting the high-quality development of the capital market.
This is the third guideline document on the capital market from the State Council in two decades. The first two were issued in 2004 and 2014, respectively.
The country should build a secure, regulated, transparent, open, dynamic and resilient capital market, the guideline noted.
In this regard, efforts should focus on strengthening regulation, preventing risks and pushing forward high-quality development to fully harness the functions and roles of the capital market, promote the building of a country with a strong financial sector and serve the goal of advancing Chinese modernization.
The guideline demanded strict regulation on the entry into the capital market through securities issuance and listing, urging higher standards for listing on the main boards and the start-up board ChiNext.
The oversight on issuance and underwriting should be intensified, and illegal activities such as fraudulent issuance should be investigated strictly, it said.
It urged rigorous sustained oversight on listed firms, noting that authorities should crack down on illegal shareholding reduction and tighten regulation on cash dividend payment by listed firms.
The country vowed to strengthen regulation on delisting, adopt stricter standards for compulsory delisting, smooth diverse channels for delisting, and optimize investor compensation remedy mechanisms, according to the guideline.
Efforts will also go to tightening regulation on institutions like securities and fund management companies, and strengthening shareholder and business access management.
Work should be done to tighten supervision over high-frequency trading and other types of trading, and investigate and punish illegal activities such as market manipulation and malicious short-selling, according to the guideline.
It also demanded strengthening the reserves of strategic forces and the development of stabilizing mechanisms. The impacts of both major economic and non-economic policies on the capital market will be factored into policy orientation consistency evaluation, as part of efforts to enhance the intrinsic stability of the capital market, it said.
China will vigorously guide the entry of medium and long-term capital into the market, it stated.
Work will be done to develop public equity funds and optimize the policy environment for insurance-fund investment. Encouragement will also be given for capital from banks' wealth management products and trust funds to actively participate in the capital market.
The country will advance the registration-based initial public offering system for solid progress and make the market more inclusive to new industries, new business patterns and new technologies to foster new quality productive forces.
It is also imperative to strengthen the rule of law in the capital market and make intensified efforts to jointly crack down on securities and futures malpractice.
The guideline also stressed the importance of upholding and enhancing the leadership of the Communist Party of China, ensuring that the financial sector must always serve the public, and strengthening regulation in all respects and effectively preventing and defusing risks, among others.
"The guideline reflected a goal-oriented and problem-oriented approach," China Securities Regulatory Commission Chairman Wu Qing told Xinhua in an exclusive interview.
In particular, in view of the prominent problems such as those in institutions, mechanisms and regulations exposed by the stock market volatility since August last year, the guideline aimed to shore up weakness in response to investors' concerns and promote the resolution of deep-seated problems accumulated over the years, Wu added.
In the next five years, China expects to form a general framework to support the high-quality development of the capital market, according to the guideline.
By 2035, a capital market with high adaptability, competitiveness and inclusiveness will be basically established, it said. By the middle of the 21st century, the governance system and capabilities of the capital market will be further modernized, creating a high-quality capital market that matches China's status as a country with great financial strength.
Wu said the series of development goals is systematic, comprehensive and progressive, calling for adhering to market-oriented and law-based reform and turning the blueprint into reality.
"In the next step, we will study and formulate reform measures to promote the long-term development of the capital market on the basis of in-depth research," he said.
Address of this article:http://fiji.camilleandconfettis.com/content-42b099932.html
Very good!(4644)
Related articles
- Amtrak train hits pickup truck in upstate New York, 3 dead including child
- China's Huawei to launch HarmonyOS for smartphones
- China's Earth science satellite transmits images home
- China prepares to launch Shenzhou
- Adams, Reyna, Turner, Ream are US concerns ahead of Copa America
- China to lead way in clean energy shipbuilding
- China's new
- World Conference on Integrated Circuits 2022 kicks off in China's Hefei
- Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise
- Cloned arctic wolf makes debut in NE China's Heilongjiang
Popular articles
Recommended
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue
How China's breadbasket province ensures grain output through new technologies
China's first Mars rover named Zhurong
Why foreign enterprises double down on investment in China
Sweden beats France, Britain relegated after losing to Norway at hockey worlds
Explainer: Payment service guide for overseas visitors to China
Airlines see significant recovery in bookings
Cainiao, JD, SF among logistics firms on global march
Links
- Man pleads guilty in theft of bronze Jackie Robinson statue from Kansas park
- Alleged Rushdie attacker, awaiting trial in New York, could still face federal charges, lawyer says
- Millionaire 'James Bond of crypto', 25, reveals how he fled crime
- Jeremy Vine sues Joey Barton for calling him a 'big bike nonce'
- Ringleader of extreme body modifications cult who made £300,000 from his pay
- The Flores agreement has protected migrant children for nearly 3 decades. Changes may be coming.
- Kansas' governor has killed proposed limits on foreign land ownership
- Bully influencer Katherine Asplundh's billionaire in
- John Swinney clashes with SNP's former Green allies over 'regressive' decision to make anti
- Rishi Sunak tells university bosses to show 'zero tolerance' towards anti