Yi Huiman, chairman of China Securities Regulatory Commission, on capital market reform: Adhere to the “four unchanged” to create a good development environment

2022-06-14 0 By

People’s Daily Online Beijing, April 9 (Huang Sheng) Today, the third session of the Member congress of China Association of Listed Companies was held in Beijing.Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), said at the meeting that a stable and progressive capital market will always be a strong support for the high-quality development of listed companies.No matter now or in the future, the reform and development of the capital market will adhere to the “four constants”, providing inexhaustible driving force for listed companies to overcome difficulties and move forward bravely.Easy full said, capital market deepening reform in the direction of the firm will not change, will advance to the share issue smooth registration system reform, the registration system reform, for traction, basis as a whole to promote capital market system construction, improve the rule of law system, transformation and ability improvement of the key regulatory reform task fall to the ground work, further enhance the adaptability inclusive of basic system,We will continue to improve the market structure and ecosystem and make better use of the functions of capital formation and resource allocation.”There will be no change in the pace of high-level opening-up of the capital market.”‘We will step up research and launch a new round of practical measures for independent opening-up, steadily expand the scope of the Shanghai-Shenzhen-Hong Kong Stock Connect, expand and optimize the Shanghai-London Stock Connect mechanism, steadily expand two-way opening-up of the commodity and financial futures markets, further enrich the supply of international products, and comprehensively improve the competitiveness of the capital market system,’ he said.We will move faster to implement the new regulations on the supervision of overseas listing of enterprises, keep channels for overseas listing unblocked, and support Chinese enterprises in making better use of the two markets and two resources in accordance with the law.In accordance with the principle of “respecting international practices and abiding by domestic laws and regulations”, China Securities Regulatory Commission (CSRC) will promote sino-US cooperation on audit supervision to achieve results, and build a predictable international regulatory environment for high-level opening of the capital market, Yi Huian said.We will strengthen practical cooperation between the mainland and Hong Kong’s capital markets and help maintain Hong Kong’s status as an international financial center.Yi huiman said that the capital market will not change its firm attitude towards the implementation of the “two unswerving” policy, and will continue to vigorously support the reform of state-owned assets and state-owned enterprises and make state-owned capital stronger, better and bigger, while firmly supporting the innovative transformation and healthy development of private enterprises.At present, the number of private listed companies has exceeded 3,000, accounting for about two-thirds of the total. In recent years, private companies have accounted for more than 80% of the newly listed companies.”We will strive to create a more level playing field for enterprises of different ownership, better support the development of private enterprises through a variety of instruments including stocks, bonds, funds, REITs, futures and options, and accelerate the expansion of high-quality private enterprises’ financing.”He said.Yi Huiman said that the momentum of the capital market to maintain a healthy and stable development will not change. Practice has proved once again that it is the inherent requirement of the operation of the capital market to bring into play the synergy to create good expectations, as well as the good wishes of all market participants.We should adhere to the principles of market-based, law-based and internationalized capital markets, focus on synergy, continue to pay attention to and address people’s concerns, strengthen expectations management, and jointly create a favorable environment for the development of capital markets.