Global Times｜CSRC pledges to make efforts to consolidate stabilization, positive market trends
The China Securities Regulatory Commission (CSRC) said on Friday that it will make every effort to consolidate stabilization and positive trends in the market, while steadily advancing high-level institutional opening-up.
The remarks were made in the commission's half-year meeting, which summarized the work of the first half of the year and laid out the key tasks in the next stage, according to the CSRC's official WeChat account.
The CSRC will also focus on further strengthening foundations from the asset side and the capital side. In terms of deepening reforms to energize multi-tiered markets, the CSRC will promote the implementation of reforms on the Nasdaq-style Science and Technology Innovation Board, known as the STAR market. It will also introduce a package of measures to deepen reforms on the ChiNext board, and continue advancing innovation in bond and futures products and services.
The CSRC will vigorously encourage listed companies to enhance their investment, and intensify efforts to cultivate long-term and patient capital by promoting the entry of medium- and long-term funds into the market.
The commission said it will prioritize cracking down on major, egregious, and high-profile violations, strengthen regulatory coordination, enhance technology-driven supervision, and resolutely penalize illegal activities in the capital market.
Furthermore, the CSRC will steadily advance high-level institutional opening-up, and continuously expand new opportunities for cross-border cooperation in the capital market.
Since the beginning of this year, China's capital market has withstood unexpected external shocks, and the market's resilience has been enhanced. Expectations have improved, and there has been a trend toward stabilization.
In the coming period, the internal and external environment for the capital market will remain complex and there will be many difficulties and challenges. But there is certainty about continued high-quality economic development and stable macroeconomic policy. These factors, along with China's repair of asset valuations, have provided the basis and conditions for maintaining the stable and healthy operation of the market, the CSRC said.
The CSRC will continue to stabilize and activate the capital market to better serve the continued recovery of the economy and China's modernization, the regulator added.