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China to strengthen capital market regulation, risk prevention
Earth Echo news portal2024-05-21 18:11:59【sport】3People have gathered around
IntroductionBEIJING, April 12 (Xinhua) -- China's State Council has released a guideline on strengthening regula
BEIJING, April 12 (Xinhua) -- 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, as well as rigorous sustained oversight on listed firms.
It also urged intensifying regulation on delisting as well as on institutions like securities and fund management companies.
Efforts should be made to tighten supervision over high-frequency trading and other types of trading, enhance the reserves of strategic forces and further develop stabilizing mechanisms, the guideline said.
It added that 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.
China will vigorously guide the entry of medium and long-term capital into the market, comprehensively deepen reform and opening up, and strengthen the rule of law in the capital market, the guideline said. ■
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