The China Securities Regulatory Commission held an expanded party committee meeting to translate policy priorities from China’s “Two Sessions” into concrete capital market measures, framing its 2025 work around risk prevention, stronger regulation and supporting high-quality development. The work plan set out six focus areas. Market stabilisation measures include strengthening listed companies’ capacity and incentives to improve investor returns, accelerating implementation of the guidance and implementation plan for long-term funds entering the market, building strategic capacity and market-stabilisation mechanisms, and maintaining risk red lines. To support technological innovation and “new quality productive forces”, the CSRC highlighted greater institutional inclusiveness and adaptability, support for high-quality loss-making technology firms to issue and list, a prudent resumption of the STAR Market’s fifth set of listing standards, and the prompt release of demonstrative cases. It also signalled a comprehensive new round of capital market reform, expansion of institutional opening by drafting an overall opening-up plan, steady extension of cross-border connectivity, improved quality and efficiency of overseas listing filings, and greater cross-border investment and financing convenience. Enforcement priorities include faster completion of the regulatory rules framework, increased use of technology, deeper penetration in off-site supervision and on-site inspections, and rapid, targeted enforcement against serious misconduct. The CSRC also said it will strengthen mechanisms for handling proposals and suggestions submitted by National People’s Congress deputies and Chinese People’s Political Consultative Conference members to improve policy implementation and supervisory outcomes.

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