Financial Committee: Strengthen communication with the market and reduce administrative interference in transactions

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 Financial Committee: Strengthen communication with the market and reduce administrative interference in transactions


On December 20, Liu Guoqiang, deputy president of the Peoples Bank of China and deputy director of the Office of the Financial Stability and Development Commission of the State Council, chaired a seminar for some heads of commercial banks, securities companies, insurance institutions, trust companies and fund companies to hear opinions and suggestions on the reform and development of the current capital market. The relevant responsible comrades of the Banking Insurance Regulatory Commission and the Securities Regulatory Commission attended the meeting. Participants put forward specific suggestions to promote the stable and healthy development of capital market in terms of enhancing the strategic position of capital market, improving the capital market system and fostering investment groups in capital market.

The meeting held that General Secretary Xi Jinping fully deployed the work of further deepening reform and opening-up at the Congress to commemorate the 40th anniversary of reform and opening-up. The central government has clearly pointed out that the financial sector should step up its action to establish a market-oriented and legalized capital market. At present, the risk of capital market has been fully released, and has long-term investment value. Reform is facing a better opportunity.

Delegates at the meeting believed that the reform of the capital market has reached a high consensus, and will soon enter the implementation stage of brick by brick and accelerate it. In the next stage, the reform of capital market should pay more attention to improving the quality of listed companies, strengthening the governance of listed companies and strict delisting system. We need to strengthen the information disclosure system and effectively protect investors. We should resolutely implement the principle of marketization and reduce administrative interference in transactions. We should learn from the international practices, actively cultivate medium- and long-term investors, and smooth the channels for all kinds of asset management products to enter the capital market. Regulators should strengthen communication with the market and actively listen to the voice of the market.