The China Securities Regulatory Commission’s party committee held an expanded meeting to study Xi Jinping’s financial thinking and practices during his time working in Fujian and to deploy implementation measures for the capital markets. The discussion set out work priorities for the CSRC system that emphasise deepening capital market reform, strengthening supervision and risk prevention, improving market mechanisms and investor protection, and advancing opening-up. The meeting set five areas of focus: combining domestic conditions with learning from global experience to promote theoretical, practical and institutional innovation in the capital markets; balancing political direction with professional supervision capabilities; improving both efficiency and fairness by optimising equity and bond financing mechanisms and merger and restructuring arrangements while strengthening the investor protection framework and safeguarding market fairness; advancing a new round of comprehensive reform using reforms of the “two innovation boards” as a lever while implementing key measures for “autonomous opening” to enhance the attractiveness and competitiveness of the A-share market; and prioritising market stability by strengthening regularised market-stabilisation mechanisms and managing risks in areas including bond defaults and private funds in an orderly manner.

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