China Securities Regulatory Commission: Make every effort to maintain the smooth operation of the capital market, strengthen comprehensive research and judgment, monitoring and early warning of market risks, and strengthen hierarchical consultation and rapid response
Financial World 2023-12-14 20:41:58
On December 14, Yi Huiman, Secretary and Chairman of the Party Committee of the China Securities Regulatory Commission, presided over the Party Committee (enlarged) meeting to convey and study the spirit of the Central Economic Work Conference and study and deploy the systematic implementation work of the China Securities Regulatory Commission.
The meeting believed that this Central Economic Work Conference is an important meeting held in the first year of thoroughly implementing the spirit of the 20th National Congress of the Communist Party of China and comprehensively promoting Chinese-style modernization. General Secretary Xi Jinping’s important speech is high-level, broad-sighted, and profound in thought. It comprehensively summarizes the economic work in 2023, deeply analyzes the current economic situation, and systematically deploys the economic work in 2024. It has a strong political, ideological and guiding nature, and is in order to do a good job in The economic work for next year and the next period provides fundamental guidance and action guidelines. Premier Li Qiang put forward requirements for thoroughly implementing the spirit of General Secretary Xi Jinping’s important speech and doing a solid job in economic work next year. The China Securities Regulatory Commission system must conscientiously understand the spirit of the meeting and effectively integrate thoughts and actions into the Party Central Committee’s scientific judgment of the situation and the decision-making and deployment of economic work.
The meeting pointed out that this year is the year when the economy resumes development after three years of COVID-19 prevention and control. Our country’s economy has withstood external pressure, overcome internal difficulties, and has generally rebounded for the better. High-quality development has been solidly advanced, and we have taken great strides in building a modern socialist country in an all-round way. Take solid steps. The achievement of these achievements is fundamentally due to the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core and the scientific guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. The China Securities Regulatory Commission system must have a deeper understanding of the decisive significance of the “two establishments”, strengthen the “four consciousnesses”, strengthen the “four self-confidences”, achieve “two safeguards”, and uphold the party’s overall leadership over capital market work, especially the party’s The central government has centralized and unified leadership to ensure that all work on capital market reform, development and stability is always moving in the right direction.
The meeting emphasized that next year marks the 75th anniversary of the founding of the People’s Republic of China and is a critical year for the implementation of the “14th Five-Year Plan”. Doing a good job in economic work is of great significance. The Central Economic Work Conference profoundly summarized the regular understanding of the “five musts” for doing a good job in economic work in the new era, and put forward the overall requirements, policy orientation and key tasks for next year’s economic work. The China Securities Regulatory Commission system must integrate the study and implementation of the spirit of the Central Economic Work Conference with the study and implementation of the spirit of the Central Financial Work Conference, adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, completely, accurately and comprehensively implement the new development concept, and persist in pursuing stability. Advance, promote stability by promoting progress, establish first and then break, focus on enhancing economic vitality, preventing and defusing risks, and improving social expectations, carefully plan key work measures for 2024, solidly promote the implementation of the policy framework for building a modern capital market with Chinese characteristics, and accelerate the construction of a safe, A standardized, transparent, open, dynamic and resilient capital market will contribute more to the continued economic recovery and Chinese-style modernization.
First, we will make every effort to maintain the smooth operation of the capital market. Adhere to comprehensive policies, treat both the symptoms and root causes, and continue to work hard to enhance confidence and improve expectations. Let all parties work together to strengthen comprehensive analysis, monitoring and early warning of market risks, and strengthen hierarchical consultations and rapid response. Stimulate listed companies and other operating entities to generate internal motivation to stabilize the market, and optimize and improve systems and mechanisms such as dividends, buybacks, and shareholder increase. Deeply promote the construction of first-class investment banks and investment institutions, give more prominence to promoting the dynamic balance of investment and financing, vigorously promote investment-side reforms, promote and improve the policy environment conducive to the entry of medium and long-term funds into the market, guide investment institutions to strengthen counter-cyclical layout, and strengthen ” Patient Capital”.
The second is to improve the quality and efficiency of high-quality development of capital market services. Focusing on the key links, key areas and key tasks of next year’s economic work in the “Five Big Articles”, we will deepen the reform and opening up of the capital market and improve the functions of the capital market, guided by the deepening and implementation of the stock issuance registration system. Formulate and implement an action plan for the capital market to support high-level scientific and technological self-reliance and the construction of a modern industrial system. We will implement the “two unwavering principles” and intensify efforts to support the reform of state-owned enterprises and the development and growth of the private economy. Promote the improvement of the quality of listed companies, encourage listed companies to focus on their main businesses, become better and stronger, and consolidate and deepen the normalized delisting mechanism. Deepen the market pattern of misaligned development and moderate competition in the multi-level equity market, and accelerate the construction of a world-class exchange. Optimize the institutional environment for “raising, investing, managing and exiting” private equity venture capital funds. Steadily promote the expansion and quality improvement of the exchange bond market. Focus on key areas such as building a strong agricultural country, a strong manufacturing country, and green and low-carbon development, explore futures regulatory systems and business models with Chinese characteristics, better leverage the functions of the futures market, and help increase the price influence of important commodities. Adhere to the direction of marketization, rule of law, and internationalization, advance the high-level two-way opening of the capital market in an orderly manner, and accelerate the construction of regulatory capabilities and risk prevention and control systems that match the degree of openness.
The third is to adhere to the main responsibilities and main businesses of supervision and effectively prevent and resolve risks in key areas of the capital market. Comprehensively strengthen institutional supervision, behavioral supervision, functional supervision, penetrating supervision, and continuous supervision, and effectively implement the “teeth and thorns” of supervision. We will intensify the crackdown on illegal activities such as financial fraud and fraudulent issuance, and continue to purify the market ecology. We will severely crack down on “pseudo private placements”, clean up and rectify gold exchanges and “fake gold exchanges”, and strive to eliminate the regulatory vacuum. Actively cooperate with relevant parties to prevent and resolve real estate, local debt and other risks. Strengthen the supervision of the entire chain of industry organizations, urge the strengthening of internal governance and cultural construction, and maintain the bottom line of compliance and risk control.
The fourth is to further promote the comprehensive and strict governance of the party and the construction of cadres in the China Securities Regulatory Commission system. We must adhere to the principle of turning the blade inward and self-revolution, strengthen the coordination of the “two responsibilities”, deepen the normalization and long-term implementation of central inspection rectification, and maintain the strict tone, strict measures, and strict atmosphere for a long time. Adhere to the standards of strong politics, strong capabilities, and strong work style, strengthen all-round management and regular supervision, resolutely correct formalism and bureaucracy, better encourage people to act, and strive to create a team of loyal, clean and responsible supervisory cadres.
The meeting requested that party members and cadres of the China Securities Regulatory Commission system should keep in mind the “big one in the country”, effectively enhance their sense of responsibility and mission, strengthen their confidence, forge ahead, comprehensively benchmark and benchmark the various arrangements of General Secretary Xi Jinping and the Party Central Committee on economic and financial work, and do not compromise. Be non-stop, act vigorously and resolutely, seek truth and be pragmatic, do good deeds and implement them well. It is necessary to coordinate the current and long-term work, do a solid job at the end of the year and the beginning of the year, and pay close attention to the implementation of various tasks such as safety production and market operation service guarantee.
Members of the Party Committee of the China Securities Regulatory Commission, responsible comrades of the Discipline Inspection and Supervision Team of the China Securities Regulatory Commission, and main responsible comrades of various units and departments within the system attended the meeting.
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2023-12-14 12:41:58
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