China News Service, June 11th, according to the website of the China Securities Regulatory Commission, Yan Qingmin, vice chairman of the China Securities Regulatory Commission, said at the 2020 annual meeting of the China Association of Listed Companies that it will continue to strengthen the supervision of listed companies, especially for the preparation of false financial accounting information. Words, fraudulent accounts, fund occupation, illegal guarantees and other risk signs or acts that have constituted violations must be severely cracked down.
On June 11, the website of the China Securities Regulatory Commission published the full text of Yan Qingmin's speech at the 2020 annual meeting of the China Listed Companies Association. Yan Qingmin said that for the supervision of listed companies, the CSRC will promote the following aspects:
First, adhere to system priority and promote compliance development of listed companies. Comparing the newly revised Securities Law, comprehensively improve and improve the regulatory laws and regulations of listed companies, form a system of regulatory systems for listed companies centered on information disclosure management measures, corporate governance guidelines, and the stock listing rules of the Shanghai and Shenzhen Stock Exchanges, and continue to promote optimization and perfect listing The company's information disclosure, mergers and acquisitions, shareholding reduction, and delisting systems have established a basic capital market system that is compatible with the new Securities Law. At the same time, give full play to the role of the Science and Technology Innovation Board as a test field, ensure the steady implementation of the various reform measures of the Growth Enterprise Market, continue to support the deepening of the reform of mixed ownership of state-owned enterprises, and continue to promote the high-quality development of private enterprises.
The second is to adhere to the problem orientation and continue to strengthen the supervision of listed companies. Focusing on the implementation of the new "Securities Law", insisting on ignorant inertial violations mainly based on norms, malicious violations mainly based on crackdowns, and continued to strengthen the supervision of listed companies, especially for the preparation of false financial accounting information, telling lies, doing false accounts, and occupying funds Risk behaviors such as illegal guarantees or acts that have constituted facts of violations must be severely cracked down, so as to "beat early, beat small, hurt". By substantially increasing the cost of violating laws and regulations, the market environment will be further purified and the market order will be maintained, resulting in a "good currency-led" market environment. At the same time, it is necessary to further strengthen the supervision of the internal control and information disclosure of listed companies. Through increased training, it will truly grasp the "key minority" such as controlling shareholders, actual controllers, directors, supervisors, and senior management personnel, and vigorously improve the integrity of listed companies. Normative level.
The third is to adhere to risk management and control to prevent and resolve risks in key areas of listed companies. Under the unified command and coordination of the Finance Committee of the State Council, in accordance with the principles of strengthening coordination, improving policies, controlling increments, and dissolving stocks, the stock pledge risk was steadily and orderly resolved. Improve risk handling coordination mechanism, information interconnection, and discuss measures together. Make good use of channels and policy tools such as bail-outs, debt-to-equity swaps, financing replacements, mergers and acquisitions and restructurings, and create typical cases to achieve greater breakthroughs. Strictly implement the hierarchical and differentiated stock pledge information disclosure system to control the pledge of restricted stocks. Consolidate the main responsibilities of major shareholders and actual controllers of listed companies, standardize the requirements for financial institutions to develop their businesses, and orderly reduce the number of pledged companies with the highest proportion of the largest shareholders. At the same time, continuously expand the delisting channels, improve the delisting mechanism, improve the delisting standards, simplify the delisting process, strengthen delisting supervision, give full play to the decisive role of the market in resource allocation, achieve the survival of the fittest, and improve the quality of listed companies.
The fourth is to further improve the regulatory effectiveness of listed companies. Continue to explore and improve the "reported report" system, and use it as an important way to purify the capital market, so that more market participants will join the capital market's ecological purification process, and actively play the role of social supervision. At the same time, based on the construction of a compliant, honest, professional and stable industry culture, we actively guide the proposed listed companies to establish the concept of synchronizing the "main body" listing and the "ideological" listing of enterprises, increase the news coverage of outstanding listed companies, and pay attention to Chinese listed companies. Stories to create a good public opinion environment for the high-quality development of listed companies.
Yan Qingmin emphasized that whether it is to mitigate risks or promote development, it is difficult to complete the "single soldier advancement" by the China Securities Regulatory Commission alone. It urgently needs the efforts of all parties and joint management to form a good ecology of "co-building, co-governance and sharing".