China Securities Regulatory Commission held a party-building and regulatory work symposium and said it will deepen reform to improve the inclusiveness and adaptability of its institutional framework, according to Odaily.
The meeting said regulators will implement measures tied to comprehensive investment and financing reform and make better use of the functions of the stock, fund, bond and futures markets.
It also called for strict supervision to protect fairness, openness and justice in the market. Authorities said they will target major and serious violations, improve the quality and efficiency of enforcement, and investigate and punish financial fraud, insider trading and market manipulation in accordance with the law. The meeting also mentioned stronger oversight of new business models and the use of artificial intelligence in regulation.
On listed companies, the meeting said regulators will support the strong and restrict the weak to help listed firms improve in quality and strength. It called for a more solid comprehensive system to prevent and punish financial fraud, greater efforts to improve standardized corporate governance, continued support for mergers and restructurings, and the rollout of more representative cases.
The regulator also said it will promote high-quality development of industry institutions on a tiered and classified basis, improve the “1+N+X” supervisory framework for securities firms, speed up a package of measures aimed at standardizing fund company development, issue regulatory measures for futures companies as soon as possible, and promote standardized and healthy development of private funds.
On risk control, the meeting said authorities will guard against hidden risks in key areas, maintain the security and stability of capital market financial infrastructure, and work to prevent and defuse default risks involving financing platforms and real estate-related bonds.
It also said China will deepen two-way opening of the capital market in a prudent and orderly way and further strengthen cross-border regulatory cooperation.