The China Securities Regulatory Commission (CSRC) recently held a meeting to propose such tasks as multi-channel promotion of more medium- and long-term capital market entry, allowing high-quality securities firms to expand their counter business, and filling in the shortcomings of the multi-level capital market system. Yi Huimanze, chairman of the Securities Regulatory Commission, wrote that the normalization of new stock issuance should be maintained, and refinancing, mergers and acquisitions, restructuring, reduction, spin-off and listing systems should be further optimized to fully stimulate market vitality.
According to the press release published on the website of the Securities Regulatory Commission, the long-term capital entering the market includes: strengthening the long-term performance orientation of securities fund management institutions, promoting the classified supervision of public fund managers; promoting the relaxation of the proportion and scope of various medium and long-term funds entering the market; and promoting the public fund to be included in personal tax deferred commercial pension investment. Range.
Yi Huiman wrote in People's Daily that at present, the stock market, bond market and commodity futures market are among the largest in the world, but overall development is not mature, and some deep-seated structural institutional and institutional problems have not been effectively solved. In addition to firmly and steadily promoting the construction of scientific innovation board and pilot registration system, we should accelerate the reform and opening-up of capital market.
In the aspect of bond financing, we should actively promote the innovation of bonds and asset-backed securities in the exchange market, promote the unification of the standards of issuance access and information disclosure of corporate credit bonds, and promote the interconnection of bond markets; in the aspect of private equity investment, we should improve the differential supervision system and policy support system, and vigorously develop venture capital funds. And merger and acquisition of investment funds to promote the formation of innovative capital.
On Tuesday, SAFE also announced the abolition of investment quotas for QFII and RQFII, which is expected to further enhance the openness of China's financial market and the convenience of foreign investors'participation in domestic financial market will be greatly enhanced again.
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