Zhongxin Finance, March 29. Recently, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council issued the "Opinions on Promoting the Construction of a Social Credit System for High-Quality Development and Promoting the Formation of a New Development Pattern".
Among them, it is proposed to strengthen the integrity of the capital market.
Further consolidate the foundation of the rule of law and integrity in the capital market, improve the integrity files of the capital market, and enhance the awareness of credit and the spirit of contract.
Consolidate the information disclosure responsibilities of relevant entities and enhance market transparency.
Establish a credit commitment system for administrative licensing in the capital market to improve handling efficiency.
Urge intermediary service agencies to be diligent and responsible, and improve the professional ethics of employees.
Strictly implement the compulsory delisting system, and establish a virtuous cycle mechanism of the survival of the fittest among listed companies.
Strengthen the protection of investors' rights and interests, and create an honest and trustworthy financial ecological environment.
The document also proposes to give full play to the role of credit in the identification, monitoring, management, and disposal of financial risks, and establish and improve a risk prevention and resolution mechanism of "early detection, early warning, and early disposal".
Support financial institutions and credit reporting, rating and other institutions to use big data and other technologies to strengthen tracking, monitoring and early warning, and improve market-based risk sharing, mitigation, and compensation mechanisms.
Adhere to "strict supervision and zero tolerance", strictly investigate and deal with major illegal cases such as fraudulent issuance, false statements, market manipulation, and insider trading in accordance with the law, and intensify criminal crackdowns on misappropriation of fund properties.
We will improve the mechanism for handling debt defaults, and severely punish evasion and abandonment of debts in accordance with the law.
Strengthen the punishment of dishonesty in the field of online lending.
The market exit mechanism shall be improved, and enterprises that are insolvent and unable to pay their debts can go bankrupt, reorganize or liquidate in accordance with the law, and explore the establishment of a compulsory enterprise exit system.
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