China News Service, Beijing, November 22. Liu He, member of the Political Bureau of the CPC Central Committee, Vice Premier of the State Council, and Director of the Financial Stability and Development Committee of the State Council (hereinafter referred to as the Financial Committee), presided over the 43rd meeting of the Financial Committee on the 21st to study and regulate the bond market. Develop and maintain the stability of the bond market.

Relevant persons in charge of member units of the Financial Committee attended the meeting.

　　The meeting pointed out that the CPC Central Committee and the State Council attach great importance to the healthy and sustainable development of the capital market.

The reform and opening up of China's bond market has continued to deepen, the function of serving the real economy has continued to increase, and the overall market has been operating steadily.

The recent increase in default cases is the result of the superposition of cyclical, institutional and behavioral factors.

It is necessary to adhere to the general tone of the work of seeking progress while maintaining stability, and in accordance with the principles of marketization, rule of law, and internationalization, handle the relationship between promoting development and preventing risks, and promote the sustainable and healthy development of the bond market.

　　The meeting requested that first, improve political positions and earnestly fulfill responsibilities.

Financial regulatory agencies and local governments must proceed from the overall situation, resolutely maintain the authority of the legal system, implement regulatory and territorial responsibilities, and urge various market entities to strictly perform their responsibilities in accordance with the requirements for comprehensive rule of law in accordance with the law, and establish a good local financial ecology and credit environment.

　　The second is to uphold a "zero tolerance" attitude and maintain market fairness and order.

It is necessary to severely investigate and punish various violations of laws and regulations such as fraudulent issuance, false information disclosure, malicious transfer of assets, and misappropriation of issuance funds, and severely punish all kinds of “debt evasion” to protect the legitimate rights and interests of investors.

　　The third is to strengthen industry self-discipline and supervision, and strengthen market restraint mechanisms.

Various market entities such as bond-issuing companies and their shareholders, financial institutions, and intermediary institutions must strictly abide by laws, regulations and market rules, adhere to professional ethics, be diligent, honest and trustworthy, and effectively prevent moral hazards.

　　The fourth is to strengthen coordination and cooperation between departments.

Improve risk prevention, detection, early warning, and disposal mechanisms, strengthen the investigation of hidden risks, maintain reasonable and sufficient liquidity, and firmly hold the bottom line of avoiding systemic risks.

　　Fifth, continue to deepen reforms.

We must deepen bond market reforms, establish and improve market systems, improve market structures, and enrich products and services.

It is necessary to deepen the reform of state-owned enterprises and improve the quality and efficiency of operations.

(Finish)