Several Opinions of the State Council on Strengthening Regulation to Prevent Risk and Promoting the High-quality Development of the Capital Market
Several Opinions of the State Council on Strengthening Regulation to Prevent Risk and Promoting the High-quality Development of the Capital Market
Several Opinions of the State Council on Strengthening Regulation to Prevent Risk and Promoting the High-quality Development of the Capital Market
Guo Fa [2024] No.10
April 4, 2024
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries and commissions of the State Council and all authorities directly under the State Council,
Since the 18th CPC National Congress, the rapid development of China's capital market has played an important role in promoting the optimal allocation of resources, rapid economic development and long-term social stability, and supporting scientific and technological innovation. The following opinions are hereby put forward to fully implement the guiding principles of the Central Financial Work Conference and further facilitate the high-quality development of the capital market.
I. General Requirements
Take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guideline, implement the guiding principles of the 20th CPC National Congress and the Second Plenary Session of the 20th CPC Central Committee, and the new development philosophy, focus on building a safe, standardized, transparent, open, dynamic, and resilient capital market, combine the general laws of the capital market with China's national conditions and market conditions, adhere to the nature of capital market work related to politics and serving the people, insist on the main line of strengthening regulation, preventing risks, and promoting high-quality development, give priority to improving the basic system of the capital market, give better play to the functions and roles of the capital market, promote the construction of a strong financial country, and serve the overall situation of Chinese-style modernization.
Deeply grasp the main connotation of high-quality development of the capital market, and achieve the stable and healthy development of the capital market in serving major national strategies and driving high-quality economic and social development. Uphold and strengthen the Party's leadership, give full play to the Party's political, organizational and institutional advantages, and ensure that the capital market always maintains the correct direction of development; always practice the concept of finance for the people, highlight the people-centered value orientation, more effectively protect the legitimate rights and interests of investors, especially small and medium-sized investors, and help better meet the growing demand for the wealth management of the people; comprehensively strengthen regulation, effectively prevent and defuse risks, insist on the principle of stability as the keynote and strict regulation first, and ensure "effective" regulation; always adhere to the principles of market orientation and the rule of law, highlight goal orientation and problem orientation, further deepen the reform of the capital market in an all-round way, and balance opening up and security; firmly grasp the theme of high-quality development, insist on integrity and innovation, and more effectively serve the key areas of the national economy and the construction of a modern industrial system.
In the next five years, the overall framework for the high-quality development of the capital market will be basically formed. The system and mechanism for investor protection will be further improved. The quality and structure of listed companies will be significantly optimized, and the strength and service capacity of securities, funds and futures institutions will continue to increase. The capacity and effectiveness of capital market regulation will be greatly enhanced. A sound capital market environment will be formed more quickly. By 2035, a highly adaptable, competitive and inclusive capital market will be basically established, and the legitimate rights and interests of investors will be more effectively protected. The structure of investment and financing will be more reasonable; the quality of listed companies will be significantly enhanced; and notable progress will be made in building first-class investment banks and investment institutions. The regulatory system and mechanism for the capital market will be more complete. By the middle of this century, the modern governance system and governance capacity of the capital market will be further improved, and a high-quality capital market matching the strong financial country will be built.
II.
......
Guo Fa [2024] No.10
April 4, 2024
People's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and all ministries and commissions of the State Council and all authorities directly under the State Council,
Since the 18th CPC National Congress, the rapid development of China's capital market has played an important role in promoting the optimal allocation of resources, rapid economic development and long-term social stability, and supporting scientific and technological innovation. The following opinions are hereby put forward to fully implement the guiding principles of the Central Financial Work Conference and further facilitate the high-quality development of the capital market.
I. General Requirements
Take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as the guideline, implement the guiding principles of the 20th CPC National Congress and the Second Plenary Session of the 20th CPC Central Committee, and the new development philosophy, focus on building a safe, standardized, transparent, open, dynamic, and resilient capital market, combine the general laws of the capital market with China's national conditions and market conditions, adhere to the nature of capital market work related to politics and serving the people, insist on the main line of strengthening regulation, preventing risks, and promoting high-quality development, give priority to improving the basic system of the capital market, give better play to the functions and roles of the capital market, promote the construction of a strong financial country, and serve the overall situation of Chinese-style modernization.
Deeply grasp the main connotation of high-quality development of the capital market, and achieve the stable and healthy development of the capital market in serving major national strategies and driving high-quality economic and social development. Uphold and strengthen the Party's leadership, give full play to the Party's political, organizational and institutional advantages, and ensure that the capital market always maintains the correct direction of development; always practice the concept of finance for the people, highlight the people-centered value orientation, more effectively protect the legitimate rights and interests of investors, especially small and medium-sized investors, and help better meet the growing demand for the wealth management of the people; comprehensively strengthen regulation, effectively prevent and defuse risks, insist on the principle of stability as the keynote and strict regulation first, and ensure "effective" regulation; always adhere to the principles of market orientation and the rule of law, highlight goal orientation and problem orientation, further deepen the reform of the capital market in an all-round way, and balance opening up and security; firmly grasp the theme of high-quality development, insist on integrity and innovation, and more effectively serve the key areas of the national economy and the construction of a modern industrial system.
In the next five years, the overall framework for the high-quality development of the capital market will be basically formed. The system and mechanism for investor protection will be further improved. The quality and structure of listed companies will be significantly optimized, and the strength and service capacity of securities, funds and futures institutions will continue to increase. The capacity and effectiveness of capital market regulation will be greatly enhanced. A sound capital market environment will be formed more quickly. By 2035, a highly adaptable, competitive and inclusive capital market will be basically established, and the legitimate rights and interests of investors will be more effectively protected. The structure of investment and financing will be more reasonable; the quality of listed companies will be significantly enhanced; and notable progress will be made in building first-class investment banks and investment institutions. The regulatory system and mechanism for the capital market will be more complete. By the middle of this century, the modern governance system and governance capacity of the capital market will be further improved, and a high-quality capital market matching the strong financial country will be built.
II.
......