China News Service, Beijing, May 27 (Reporter Chen Kangliang) Li Chao, vice chairman of the China Securities Regulatory Commission, said at the first Xiamen Financial Judicial Collaboration Forum that China's capital market has become a market with world influence, with more than 2 billion, ranking first in the world, and the market value and number of listed companies ranked second and third in the world respectively.
The China Securities Regulatory Commission released relevant information on the 27th.
Li Chao said, adhere to the rule of law and supervise according to the law, actively promote the comprehensive deepening of capital market reform including the registration system reform, and various supervision work on the track of the rule of law, continuously improve the level of legal construction in the capital market, and protect investors in accordance with the law. Legitimate rights and interests have always been the focus of the work of the CSRC, which cannot be separated from the support of the legislative and judicial departments.
Li Chao pointed out that a breakthrough has been made in the construction of the legal system of China's capital market.
The comprehensive revision of the Securities Law provides a solid legal guarantee for the reform of the capital market.
The promulgation of the Futures and Derivatives Law complements the legal "shortcomings" in China's futures and derivatives sector.
The "Criminal Law Amendment (11)" has greatly increased the penalties for securities and futures crimes such as fraudulent issuance and information disclosure and fraud.
The "Implementation Measures for the Commitment System of the Parties in Securities and Futures Administrative Law Enforcement" and its supporting rules have been implemented, and the ability and level of administrative law enforcement in the securities and futures market have been further improved.
Li Chao believes that, in general, the legal system of the capital market with Chinese characteristics is improving day by day.
At the same time, the judiciary has formulated and issued judicial interpretations and other documents around the key areas and key links of the pilot registration system on the Sci-Tech Innovation Board and ChiNext, effectively ensuring the smooth progress of the registration system reform.
In the next step, facing the new situation and new requirements, Li Chao said that securities supervision should continue to strengthen coordination with the judiciary to jointly create a good capital market ecology.
The China Securities Regulatory Commission will continue to improve the investor rights protection and relief mechanism, establish and improve the normalization mechanism for special representative litigation in securities disputes, promote the implementation of administrative fines and confiscations for the implementation of the investor compensation system, improve the ability and efficiency of resolving multiple disputes, and continue to release substantial increases in securities violations. Costs, a strong signal to resolutely protect the legitimate rights and interests of investors, actively build an open, fair and just market environment, and effectively enhance investors' sense of gain, security, and happiness.
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