As soon as I went to work after the Spring Festival, the China Securities Regulatory Commission held a series of symposiums. Wu Qing, chairman of the China Securities Regulatory Commission, and members of the leadership team presided over the meeting. The symposium was attended by experts and scholars, small and medium-sized investors, listed companies, enterprises to be listed, first-class business institutions, accounting law firms, private equity institutions, foreign-funded institutions, etc.
The symposium conducted extensive discussions on strengthening capital market supervision, preventing and resolving risks, and promoting the high-quality development of the capital market. Many of its valuable opinions and suggestions will be gradually standardized into rigid policies.
The main points and highlights are as follows:
The first is to strictly control the IPO access system and improve the quality of listed companies from the source. Improve relevant policies and mechanisms, further strengthen the supervision and inspection of enterprises to be listed, and vigorously rectify financial fraud. Consolidate the primary responsibility of the issuer and the responsibility of the "gatekeeper" of the intermediary.
The second is to strengthen the supervision of the whole process of listed companies. Strictly punish the impure purpose of listing, the behavior for the purpose of "collecting money" and "cashing out", severely punish financial fraud, prevent detours, strictly delist the system, increase dividend returns, strengthen market value management, etc., and strive to better enhance investor confidence and enhance investors' sense of gain.
The third is to strengthen the supervision of ** companies and public offerings. Improve the supervision model of industry institutions, improve the institutional system of institutions, personnel, business, etc., and strengthen the compliance and risk control requirements of institutions.
Fourth, improve the regulatory incentive and restraint mechanism, give more prominence to rewarding the good and punishing the bad, and promote the improvement of the ability of the best companies and public offerings. Promote the introduction of more medium and long-term funds into the market.
In recent years, there have been many problems such as foolishness, financial fraud, violations, malicious shorting, rat warehouses, etc., which have seriously hit the investment confidence of ordinary shareholders and made their money bags shrink, and shareholders have complained and strongly demanded that those who violate discipline and law be severely punished, and strongly demand the establishment of a standardized, orderly, transparent, fair and just market mechanism.
Now the work of the securities regulatory has made so many big moves and introduced so many favorable policies. Investors see hope. What they hope for is such a standardized, orderly, transparent, fair and just market.