focus on the two sessions| Wu Qing: Open up the blockages for medium-and long-term funds such as social security, insurance, and financial management one by one, and enhance strategic power reserves through multiple channels

(Photo source: Visual China)

Blue Whale News, March 6 (Reporter Wang Wanying)Today, Wu Qing, Chairman of the China Securities Regulatory Commission, said at a press conference on the economic theme of the Third Session of the 14th National People’s Congress that he will accelerate a new round of capital market reform and opening up and continuously build a solid foundation for the healthy development of the stock market. The first is to further enhance the inclusiveness of the multi-level market. The second is to further enhance the synergy of investment and financing development. The third is to further enhance the effectiveness of supervision and law enforcement. Fourth, we must further enhance the adaptability of the basic market system.

He mentioned that it is necessary to further enhance the inclusiveness of the multi-level market system, deepen the reform of the Science and Technology Innovation Board, GEM, and Beijing Stock Exchange, and promote the concentration of market resources in new industries, new business formats, and new technology fields.

Wu Qing said that since the launch of the New China Nine Articles, the China Securities Regulatory Commission has formulated and revised more than 50 institutional rules, systematically reshaped the regulatory logic, further improved the regulatory system and mechanism, and further improved regulatory efficiency. In 2024, the China Securities Regulatory Commission handled 739 cases of various types, with fines and fines exceeding twice the previous year. The transfer of cases and clues to public security organs increased by 51% year-on-year.

In terms of strengthening supervision and protecting investors, Wu Qing said that he will continue to adhere to strict supervision and control, further improve the regulatory system and mechanism in all aspects of the entire chain such as issuance and listing information disclosure, corporate governance, mergers and acquisitions transactions, and delisting, and further enhance supervision. Efficiency, focus on market concerns, especially some serious violations of laws and regulations that investors hate, such as financial fraud, fraudulent issuance, market manipulation, and internal transactions, will be promptly investigated and severely punished in accordance with the law.

He mentioned that it is necessary to continue to promote the implementation of the nine-point and 1+N policy system of the New China, accelerate the new round of capital market reform and opening up, and open up the blockages of medium and long-term funds such as social security, insurance, and financial management one by one. Strengthen strategic power reserves through multiple channels. rdquo;

In addition, we must enhance the adaptability of the basic market system, adhere to respecting laws and rules, optimize the market pricing mechanism, evaluate and improve the transaction settlement system, and create a fairer, more efficient, more attractive and predictable system for all market participants. Institutional environment, steadily expand high-level institutional opening up to the outside world, further improve the filing system for overseas listings, steadily expand cross-border interconnection, and better promote reform and development through opening up. (Blue Whale News Wang Wanying wangwanying@lanjinger.com)