(Original title: Just now, Yi Huiman speaks out!)
Yi Huiman, Chairman of the China Securities Regulatory Commission: The comprehensive registration system reform has brought a real sense of gain to all market participants
At the listing ceremony of the first batch of enterprises under the registration system of the main board of the Shanghai and Shenzhen Stock Exchanges held this morning, Yi Huiman, chairman of the China Securities Regulatory Commission, said that the changes brought about by the reform of the registration system are all-round and fundamental, and the issuance and listing with information disclosure as the core The system has withstood the market test, transaction delisting and other key system innovations have achieved remarkable results. The capital market’s service function to the real economy, especially technological innovation, has been greatly improved, the market structure and market ecology have undergone profound changes, and the market vitality and market resilience have been significantly enhanced, bringing a real sense of gain to all market participants.
Yi Huiman, Chairman of the China Securities Regulatory Commission: The reform of the registration system is a change that touches the underlying logic of supervision, and the blade is inward.
At the listing ceremony of the first batch of enterprises under the main board registration system of the Shanghai and Shenzhen Stock Exchanges held this morning, Yi Huiman, chairman of the China Securities Regulatory Commission, said that compared with the approval system, the implementation of the registration system not only involves changes in the review subject, but more important changes are reflected in four aspects.
One is the change in concept, insisting on information disclosure as the core, and the regulatory authorities do not make judgments on the investment value of enterprises. The second is the change of gatekeeping methods, mainly through the quality control of information disclosure, the primary responsibility of issuers for information disclosure, and the responsibility of “gatekeepers” of intermediary agencies. The third is the change in transparency. The standards, procedures, inquiry content, process, and results of the review and registration system are all made public, and the supervision and checks and balances are stricter, allowing public power to operate in the sun. The fourth is the change in supervision and law enforcement. There is zero tolerance for various violations of laws and regulations such as fraudulent issuance and financial fraud.
Practice has shown that the reform of the registration system is a change that touches the underlying logic of supervision. The reform is inward, affects the overall reform of the capital market, and has a far-reaching impact.
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