Time: 2022-05-05 22:52:10 Source: Xinhua News Agency Editor: Lai Yan
Xinhua News Agency, Beijing, May 5th. China Securities Journal published an article on the 5th, “China Securities Regulatory Commission: Supporting Real Estate Enterprise Bond Financing to Launch Market Making Transactions on the Science and Technology Innovation Board”. The article said that the China Securities Regulatory Commission reported on May 4 that recently, the China Securities Regulatory Commission held a special meeting to earnestly convey the spirit of studying the Political Bureau of the Central Committee and General Secretary Xi Jinping’s important speech at the 38th collective study of the Political Bureau of the Central Committee, and to study the deepening of capital. Measures related to market reform, maintaining the stable operation of the capital market, and helping to stabilize the macroeconomic market.
The meeting called for greater efforts to help stabilize the macroeconomic market, solidly promote the comprehensive deepening of the reform of the capital market, steadily expand the institutional opening of the capital market, and unremittingly pay close attention to the prevention and control of capital market risks. The meeting also clarified that it will actively support the bond financing of real estate companies, steadily promote the reform of the registration system for stock issuance, and launch market-making transactions on the Science and Technology Innovation Board.
The meeting believed that since the beginning of this year, risks and challenges caused by the new crown pneumonia epidemic and the Ukraine crisis have increased, and the complexity, severity and uncertainty of my country’s economic development environment have increased. To be safe”, the CSRC should unify its thoughts and actions into the important judgments and decisions made by the Party Central Committee on the situation, always keep in mind the “bigger of the country”, study and implement the actual situation of the capital market, and coordinate the stable growth and development. Prevent risks, strengthen confidence, overcome difficulties, and ensure that the major policies and principles of the Party Central Committee are implemented in place.
More efforts will be made to help stabilize the macroeconomic market, scientifically and reasonably grasp the normalization of IPOs and refinancing, enrich the bond financing tools and varieties such as technological innovation corporate bonds and SME credit enhancement collective bonds, actively support real estate corporate bond financing, and study to broaden the foundation. The pilot scope of facility REITs, and more policies and measures to support the development of real enterprises will be introduced in due course. Steadily promote the comprehensive deepening reform of the capital market, steadily promote the reform of the registration system for stock issuance, launch market-making transactions on the Science and Technology Innovation Board, enrich market risk management tools such as futures options, accelerate the pace of investment-side reform, actively introduce long-term investors, and further leverage institutional investors. function to stimulate market vitality. Steadily expand the institutional opening of the capital market, expand the scope of interconnection between domestic and foreign markets, deepen the cooperation between the mainland and Hong Kong capital markets, and promote the implementation of the overseas listing supervision system for domestic enterprises. Unremittingly pay close attention to the prevention and control of capital market risks, adhere to supervision and supervision, strengthen cross-border and cross-market risk pre-research and prediction, improve the accountability system for capital market risk prevention, early warning, and disposal, and resolve risks in key areas in an orderly manner. Bottom Line on Systemic Risk.
The meeting emphasized that it is necessary to deeply understand and resolutely implement the spirit of General Secretary Xi Jinping’s important speech, strengthen the theoretical study of capital under the conditions of the new era, always adhere to the “two unswerving”, and continuously deepen the understanding of various types of capital and their roles in my country, and deeply Grasp the dual attributes of capital, strengthen the synergy between securities supervision and industry supervision, improve governance capabilities and levels, and regulate and guide the healthy development of capital. It is necessary to continue to improve the basic system of the capital market, build an institutional system and a market system that is conducive to the positive function of capital, lead various factor resources to concentrate in key areas and weak links, promote the formation of innovative capital, and release more space for the development of various types of capital .
In the opinion of market participants, the meeting reflects the increased attention of relevant departments to supporting the development of real enterprises and the smooth operation of the capital market, which will help to further stabilize market expectations. “IPOs and refinancing are normalized, the comprehensive registration system is gradually approaching, more policies and measures to support the development of real enterprises have been introduced, and the ‘leverage effect’ of the capital market serving the real economy has increased. Inclusiveness is expected to continue to improve, and long-term funds will be actively introduced to introduce capital for more real enterprises.” Analysis of Chen Li, chief economist and director of the research institute of Chuancai Securities.
Faced with the increasing volatility of the financial market, recently, from the State Council’s Finance Committee to the “One Bank, Two Sessions, and One Bureau”, frequent voices and intensive implementation of policies have accelerated the formation of a strong synergy to stabilize expectations and increase confidence.
“Under the current complex environment, preventing and responding to financial risks requires more communication and cooperation among multiple departments.” Dong Dengxin, director of the Institute of Finance and Securities at Wuhan University of Science and Technology, said that in response to the recent fluctuations in the capital market, relevant departments have repeatedly emphasized “the need to respond to market concerns in a timely manner.” “Orderly resolve risks in key areas”, etc., to stabilize market expectations; introducing long-term investors and other measures will help boost market confidence.
Industry insiders believe that the meeting put forward goals such as “strengthening the coordination between securities supervision and industry supervision” and “improving governance capabilities and levels”, which will continue to promote the modernization of the capital market governance system and governance capabilities. The CSRC held the 2022 system work conference to clarify that the combination of delegating power and regulation will be deepened, and the transformation of supervision will be accelerated. Adapt to the profound changes brought about by major reforms such as the registration system, adhere to the problem orientation, accelerate the transformation of all-round functions of company supervision, institutional supervision, inspection and punishment, scientifically grasp the balance between “release” and “management”, strengthen interim and ex post supervision, and highlight support There is a clear orientation on the advantages and disadvantages, vigorously enhance the level of digital and intelligent supervision, continuously improve regulatory services, and improve the efficiency of capital market governance.
The copyright of the above content belongs to Guangdong New Express News Agency (except for the content indicated by other sources). The agreement is authorized to reprint contact: (020) 85180348.