The China Securities Regulatory Commission held an expanded Party committee meeting to implement the Central Economic Work Conference and national financial system work priorities, setting out its policy agenda for capital markets. The programme focuses on preventing risks, strengthening supervision and supporting high-quality development through continued reform of capital market investment and financing. Planned work includes developing a capital market framework for the 15th Five-Year Plan, cultivating higher-quality listed companies through a new corporate governance special campaign, and encouraging more dividends and share buybacks. Other priorities cover a long-horizon performance assessment mechanism for medium and long-term capital, expansion of equity mutual funds and higher-quality index investing, stronger cross-market, cross-industry and cross-border risk monitoring, and countercyclical and cross-cycle adjustments supported by a longer-term market stabilisation mechanism. Reform initiatives include launching deeper ChiNext reforms, accelerating implementation of the STAR Market “1+6” measures, promoting high-quality development of the private funds industry, advancing a commercial real estate REITs pilot, and studying new key futures products, alongside steps to build first-class investment banks and widen institutional opening by optimising the qualified foreign investor regime, improving Stock Connect, and raising the efficiency of offshore listing filings. On supervision and enforcement, the CSRC prioritised technology-enabled supervision and continued crackdowns on financial fraud, insider trading, market manipulation and misappropriation of private fund assets, as well as work to advance a regulation on listed company supervision and revisions to key rules for securities firms and investment funds. The meeting also called for stronger internal discipline and anti-corruption work and for completing remaining 14th Five-Year Plan capital market tasks while safeguarding stability over year-end and the start of the new year.
China Securities Regulatory Commission 2025-12-15
China Securities Regulatory Commission sets 2026 capital market priorities including deeper ChiNext and STAR Market reforms and tougher enforcement
The China Securities Regulatory Commission's agenda for capital markets emphasizes risk prevention, supervision enhancement, and high-quality development through reform. Key initiatives include developing a capital market framework for the 15th Five-Year Plan, enhancing corporate governance, and expanding equity mutual funds. The CSRC prioritizes technology-enabled supervision, enforcement against financial misconduct, and reforms to support market stability and institutional opening.