The China Securities Regulatory Commission deploys key tasks in 2024 and emphasizes investor-oriented
China News Service, Beijing, January 26 (Reporter Chen Kangliang) The China Securities Regulatory Commission announced on the 26th that from January 25 to 26, the China Securities Regulatory Commission held a 2024 system work meeting and emphasized that when deploying key tasks in 2024, it is necessary to highlight Investor-oriented philosophy.
The meeting pointed out that from the perspective of maintaining market fairness, we must systematically sort out and evaluate the key institutional arrangements of the capital market, focus on improving regulatory rules such as issuance pricing, quantitative transactions, and securities lending, and clearly demonstrate the priority of protecting the legitimate rights and interests of investors, especially small and medium-sized investors.
The meeting called for the further implementation of a comprehensive punishment and prevention system for anti-counterfeiting in the capital market, intensifying the investigation and handling of cases such as fraudulent issuance, financial fraud, market manipulation, insider trading, etc., improving the efficiency of case investigation and handling, and further strengthening administrative measures for cases of egregious nature and serious harm. Civil and criminal three-dimensional accountability will make offenders pay a heavy price. Make full use of mechanisms such as class actions, subrogation actions, and “model judgment + professional mediation” to allow investors to obtain compensation more conveniently and directly.
In addition, the meeting also emphasized that we should vigorously promote the improvement of the investability of listed companies, improve the quality evaluation standards of listed companies, urge and guide listed companies to strengthen their awareness of returning investors, and more actively carry out repurchases, cancellations, and cash dividends. Promote the improvement of corporate governance and establish a more stringent and effective supervision system for the "key few" such as the actual controllers of listed companies. Accelerate the construction of a valuation system with Chinese characteristics, support listed companies to become better and stronger through market-oriented mergers, acquisitions and reorganizations, promote the inclusion of market value in the assessment and evaluation system of central and state-owned enterprises, and study to increase constraints on low-valued listed companies from the perspective of information disclosure and other aspects. Consolidate and deepen the normalized delisting mechanism, insist on "retiring all that should be withdrawn", and accelerate the survival of the fittest.
Strengthen the "gatekeeper" responsibilities of intermediaries such as sponsors and accounting firms, adhere to the principle that "declaration means taking responsibility", and strictly verify and severely punish those who "break through the border while sick". The meeting pointed out that investment institutions such as public funds should be urged to fulfill their fiduciary responsibilities, enhance professional capabilities, and better serve the preservation and appreciation of residents' wealth.
Regarding highlighting the coordination of "stability" and "progress", the meeting emphasized that efforts should be made to enhance the inherent stability of the capital market, improve effective mechanisms to maintain the smooth operation of the capital market, strengthen coordination of all parties, strengthen communication with the market, and use more powerful and effective measures to stabilize the market. market and stabilize confidence. Promote the deepening and solidification of the stock issuance registration system, strengthen the supervision of the entire chain of issuance and listing, and evaluate and improve relevant mechanism arrangements. Vigorously promote the reform of the investment side, accelerate the implementation of the pilot reform of long-term stock investment of insurance funds, improve the long-term assessment of investment institutions, improve the policy environment conducive to the entry of medium and long-term funds into the market, and promote the dynamic balance of investment and financing. (over)