China Securities Regulatory Commission chair convenes stakeholder symposium and reiterates push to implement the new National Nine-Point measures and the 1+N capital market policy framework

The China Securities Regulatory Commission (CSRC) published an update on a thematic symposium in Beijing chaired by Party Committee Secretary and Chairman Wu Qing, bringing together academics, media executives, listed companies, and domestic and foreign institutional representatives to gather views on deepening capital market reform and supporting high-quality development. Wu reiterated that the CSRC will continue driving the implementation of the new “National Nine-Point” measures and the “1+N” capital market policy framework, and will advance a new round of reform and opening-up anchored in comprehensive investment and financing reforms. Discussion focused on practical reform suggestions, including improving the balance between investment and financing and removing bottlenecks that hinder medium-to-long-term funds entering the market through changes to accounting treatment and assessment mechanisms. Other proposals covered accelerating public fund reform and building “long-term” and “patient” capital; refining rules for issuance and listing, refinancing and share sales to better support technological innovation and new productive forces; expanding and optimizing QFII and the Shanghai and Shenzhen Stock Connect mechanisms; increasing ETF and other product supply; strengthening penalties for financial fraud and other serious violations to better protect investors; and improving investor communication, including through the media. CSRC Vice Chairman Li Chao and relevant department officials attended the meeting.