The China Securities Regulatory Commission hosted a thematic symposium in Beijing chaired by Wu Qing with representatives of private technology companies across sectors to gather views on deepening capital market reform and improving support for technology innovation and high-quality development of the private economy. Participants pointed to the continued rollout of the CSRC’s “1+N” policy framework, including the new “National Nine Articles” and related measures, and put forward proposals to further reform and optimise rules on equity issuance and listing, follow-on financing and mergers and acquisitions. Suggestions also included strengthening mechanisms to identify, cultivate and support technology companies in the IPO process, increasing tolerance for loss-making technology issuers while refining disclosure rules, supporting overseas-listed technology companies to return, and stepping up efforts to bring medium- and long-term funds into the market and build long-term institutional investment. Wu Qing framed comprehensive reform of capital market investment and financing as the main lever for a new round of reform and opening-up, including improving rule transparency and predictability, enhancing market inclusiveness and adaptability, and strengthening multi-tier, full lifecycle market services to support high-quality private enterprises to scale up.
China Securities Regulatory Commission 2025-04-03
China Securities Regulatory Commission holds symposium with private technology firms on capital market reform priorities
The China Securities Regulatory Commission held a symposium in Beijing, chaired by Wu Qing, to discuss capital market reform and support for technology innovation in the private sector. Key topics included the "1+N" policy framework, proposals for equity issuance reform, and mechanisms to support technology companies in the IPO process. Wu Qing emphasized reform to enhance market transparency, inclusiveness, and support for high-quality private enterprises.