The CSRC Holds a Symposium with Foreign Institutions on the "15th Five-Year" Plan for the Capital Market

To thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the important speeches regarding the formulation and implementation of the “14th Five-Year Plan,” and to further research and improve the “14th Five-Year Plan” for the capital market, on February 27, the CSRC Party Committee Secretary and Chairman Wu Qing held a symposium in Beijing. He engaged in in-depth exchanges with representatives from eight foreign-funded securities, fund, and futures institutions in China, fully listening to their opinions and suggestions.

During the symposium, the participating institutions unanimously agreed that since the implementation of the new “National Nine Regulations,” China’s capital market has achieved positive results in improving basic systems, strengthening market functions, enhancing the investment value of listed companies, and expanding high-level opening-up. The willingness and enthusiasm of foreign investors and institutions to participate in China’s capital market have significantly increased. The institutions expressed full confidence in the long-term positive development of China’s economy and capital market. At the meeting, everyone proposed specific suggestions on how to improve the inclusiveness and adaptability of the capital market system during the “14th Five-Year Plan” period, steadily expand high-level institutional opening-up, and accelerate the development of first-class investment banks and investment institutions. Key points include: continuously enhancing the service capacity and coverage of the capital market for the real economy; improving policy continuity and predictability; further increasing the investment value of listed companies; strengthening investor protection and corporate governance; continuously improving cross-border investment and financing facilitation; aligning with international standards and regulatory rules; promoting industry institutions’ “bringing in” and “going out” in both directions; supporting the differentiated and specialized development of foreign institutions; enhancing the global resource allocation capabilities of domestic institutions; and more.

Wu Qing stated that the CSRC will earnestly implement the deployments of the Fourth Plenary Session of the 20th CPC Central Committee and the upcoming National “Two Sessions,” solidly carry out the work related to the “14th Five-Year Plan” for the capital market, and research and plan key measures to promote high-quality development of the capital market over the next five years. Wu Qing emphasized the need to firmly establish and practice the correct view of performance, focus on risk prevention, strengthened regulation, and promoting high-quality development. He called for adherence to market-oriented, rule-of-law, and internationalization directions, using the reform of the STAR Market and ChiNext as leverage to deepen comprehensive reform of investment and financing, further improve the system, products, and service framework of the capital market, and enhance the system’s inclusiveness, adaptability, attractiveness, and competitiveness to better serve technological innovation and the development of new productive forces. He also stressed that opening-up should promote reform and development, focusing on advancing the deeper and higher-level opening of the capital market, actively participating in and promoting reforms in global financial governance, and continuously creating a transparent, stable, and predictable market environment. Foreign-funded institutions are important participants and witnesses in China’s capital market. It is hoped that they will further leverage their advantages in global resource allocation, international perspective, and professional experience to actively contribute ideas and efforts for the high-quality development of China’s capital market.

Relevant officials from the CSRC departments participated in the symposium.

Source: CSRC

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