Today, all discerning investors are focusing on a press conference on economic topics at the second session of the 14th National People's Congress.
In this high-profile meeting, Wu Qing, the new chairman of the China Securities Regulatory Commission, generously accepted questions from reporters at home and abroad and gave wonderful answers, which was refreshing!
According to Taylor's collation, Wu Qing shared several eye-catching views on his recent experience and views on the future of capital market work.
Wu Qing mentioned that he had just stepped into the post of chairman of the China Securities Regulatory Commission, and he was almost still in the "induction training" stage, and was stepping up his efforts to learn and understand the strategic deployment of the capital market, and at the same time actively learning from the market itself, in order to better adapt and play a role.
When talking about investment and financing, Wu Qing emphasized that they are an inseparable whole, and the objects and instruments of investment are essentially part of financing. He pointed out that a healthy investment and financing cycle is essential for the balanced development of the capital market.
On the issue of fairness and efficiency of the market, Wu Qing said that this is a fundamental issue facing the capital market. He emphasized the principles of openness, fairness and impartiality, especially in a market environment dominated by small and medium-sized investors, and protecting their legitimate rights and interests is the core task of the CSRC.
Wu Qing also mentioned the principle of "marketization and rule of law", as well as respect for laws and rules, which is the key to promoting the high-quality development of the capital market. He particularly emphasized the importance of the laws of the market, the economy, and the laws of innovation.
He mentioned that the two key words of regulatory work are "strong" and "strict", emphasizing the importance of establishing a sound market and infrastructure, while also pointing out that market volatility reveals existing problems, emphasizing that investors and listed companies are the foundation of the capital market.
Treat investors sincerely and kindly" is the core of Wu Qing's emphasis. He proposed to increase investor confidence and trust by strengthening protection and providing better services. This will not only attract more investors, especially long-term capital investment, but also the foundation for building a healthy market environment.
Improving the quality of listed companies has become another core issue. Wu Qing mentioned that we need to promote the optimization and strengthening of listed companies by enhancing the investment value and competitiveness of enterprises. At the same time, cross-sectoral cooperation will be an important way to advance this goal. Fundamentally, deepening reform and expanding opening-up are the cornerstones of supporting the high-quality development of the capital market.
In terms of supervision, Wu Qing put forward the principle of "strictly supervising the market according to law." This covers the comprehensive regulation of market institutions, behaviors, and functions, as well as special regulation of the market, bonds, and derivatives markets. Correcting problematic institutions and enterprises at an early stage, dealing with all kinds of risks in a timely manner, and cracking down on violations of regulations, especially for major violations such as creating false accounts, market manipulation, and insider trading, will be the key targets of crackdown.
Wu Qing mentioned that strict management should also be implemented for the supervision team itself. He emphasised the need for the regulatory team to meet high standards in terms of politics, professionalism, style and integrity to ensure that it is a true "regulatory ironclad".
Regarding corporate IPOs, Chairman Wu Qing made it clear that the purpose of listing must not be just to raise funds or, worse, to go public through fraudulent means. He highlighted the strict requirements for information disclosure during the registration and review process, which are intended to ensure the integrity and transparency of the market to protect the interests of investors.
Regarding some loopholes in the market, such as technical divorce and securities lending and selling, Chairman Wu Qing put forward the importance of further strengthening supervision and plugging these loopholes. For violations, he also said that he would crack down severely.
In terms of the delisting system, Chairman Wu Qing put forward stricter requirements, with the aim of enabling those companies that do not meet the requirements to withdraw from the market in a timely manner, and at the same time encouraging some companies to voluntarily delist if appropriate.
In view of the dividend policy of listed companies, Chairman Wu Qing pointed out some problems in the market and put forward countermeasures. He stressed that for companies that do not pay dividends for a long time or have a low dividend ratio, some tough measures will be taken to promote their improvement in dividend behavior, and at the same time encourage companies that allow conditions to increase the number of dividends to better return investors.
Chairman Wu Qing talked about the supervision of listed companies, including import supervision, export supervision and continuous supervision. He pointed out that improving the quality of listed companies is not only the responsibility of the company itself, but also needs the support of a good external environment. Therefore, the China Securities Regulatory Commission will cooperate with local governments to help listed companies solve practical problems, jointly create a first-class business environment, promote the company's steady operation, and better serve investors.
As new productive forces continue to emerge, there is an urgent need to adjust and improve the relevant financial market system to ensure that the power of the capital market can be fully leveraged to support the growth of promising enterprises. As industry expert Wu Qing emphasized, the key to the quality improvement of listed companies lies in the main responsibility of the enterprises themselves. In addition, controlling shareholders and core management need to play an exemplary role, while regulators, industry executives, localities** and intermediaries should also do their part to form a good ecosystem.
Wu Qing further pointed out that in order for the capital market to better serve the high-quality development of the economy, the system of issuance and listing, mergers and acquisitions and restructuring must be constantly innovated to meet the needs of the development of new productive forces. This includes not only adapting institutions and policies, but also making them more inclusive and adaptable, and ensuring that they can attract and support companies with real potential to grow with the help of capital markets.
In terms of supervision, Wu Qing stressed that it is necessary to improve the quality of declarations and promote intermediaries to better perform their duties by increasing the coverage of on-site inspections of enterprises under review and increasing the investigation and punishment of violations of laws and regulations. At the same time, for the secondary market, Wu Qing believes that it is necessary to further improve quantitative trading to ensure the fairness of transactions, and at the same time, it is also necessary to pay attention to the demand for long-term capital in the capital market.
Wu Qing also mentioned that it is crucial to build a stable internal stability mechanism of the market, which not only requires high-quality listed companies as the foundation, but also needs the support of funds, systems, market mechanisms, institutional services and regulatory law enforcement. In particular, when there are irrational market fluctuations, regulators should intervene decisively to correct market imbalances and prevent systemic risks.
Wu Qing emphasized that listed companies, as public companies, must continue to create value for the public. This means that listed companies should not only pursue profit maximization, but also pay attention to their social responsibility and long-term development to ensure that they can create more value for investors and society.
**10,000 Fans Incentive Plan