The State Council established five special working groups to solve the five major stock markets...



Recently, the State Council convened a meeting to study and deploy key tasks to promote capital market reform and development. Since last year, all relevant departments have actively implemented the "Several Opinions of the State Council on Promoting the Reform, Opening, and Stable Development of the Capital Market" (hereinafter referred to as "Several Opinions"), and have done to strengthen the capital market infrastructure, promote market development, and prevent risks. A lot of work has been done and positive progress has been made. At present, the capital market is at an important turning point. It is necessary to resolve to solve the difficult problems affecting the development of the capital market. It is necessary to address both the symptoms and the root causes, and to focus on the root cause of the problem. It is necessary to pay close attention to solving the outstanding problems existing in the current situation and to resolve to solve the history. Legacy issues, gradually eliminate institutional and institutional contradictions that hinder market development, establish and improve new mechanisms, and promote long-term stable development of the capital market.

The meeting identified five priorities for the current promotion of capital market reform and development priorities:

First, we must improve the quality of listed companies. This year, we will focus on solving the problem of capital occupation and non-compliance guarantee for listed companies. Starting from investigating the violations of state-controlled listed companies, we will increase the handling of senior executives of listed companies. Strengthen the accountability of major shareholders, directors and managers, and the accountability mechanism for dereliction of duty. Research and formulate relevant policies to increase the return on investment listed companies.

Second, we must do a good job in the comprehensive management of securities companies. High-risk securities companies should be promptly and decisively disposed of to completely eliminate potential risks. We must vigorously support high-quality securities companies and support them to become bigger and stronger. For securities companies with clear risk bases, serious rectifications, and self-rescue, measures should be taken to tide over the difficulties.

The third is to actively and steadily promote the resolution of the issue of shareholding. At present, we must pay close attention to the preparations for starting the settlement of the equity division pilot. After the pilot, the experience will be gradually expanded to gradually expand the scope of the pilot.

The fourth is to develop and strengthen institutional investors. It is necessary to further develop a diversified institutional investor team and enrich the market investment products. At the same time, it is necessary to formulate and improve relevant policies that encourage institutional investors to invest in the capital market.

The fifth is to improve the market legal system. It is necessary to actively promote and improve the securities laws and regulations, increase the punishment for securities violations, and improve the civil liability investigation mechanism for securities violations.

The meeting clarified the division of labor of the above five tasks, set up a special working group, and established specific steps and schedules for each work. All relevant departments are required to proceed from the overall situation, cooperate closely, thoroughly implement the spirit of "Several Opinions", effectively implement the conference deployment, and promote the reform, opening up, and stable development of China's capital market. At present, the various task forces are working hard to develop specific plans and strive to introduce them as soon as possible.




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