2nd LD-Writethru: Chinese premier stresses construction of capital market

0 Comment(s)Print E-mail Xinhua, April 22, 2024
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BEIJING, April 22 (Xinhua) -- Chinese Premier Li Qiang on Monday stressed efforts to accelerate the development of a safe, well-regulated, transparent, open, dynamic and resilient capital market.

He called for efforts to better leverage the role of the capital market and accelerate the building of a nation with a strong financial sector to serve Chinese modernization.

Li made the remarks at a State Council study session that focused on further reforms of the capital market for steady and healthy development.

Since the 18th National Congress of the Communist Party of China in 2012, the capital market, a crucial part of modern financial system, has accelerated development, playing a key role in promoting optimal allocation of resources, supporting scientific and technological innovation, and promoting economic and social development, he said.

Earlier this month, the State Council released a guideline on strengthening regulation on the capital market, forestalling risks and promoting its high-quality development.

Li said it is necessary to take the implementation of the guideline as an opportunity to boost the reform and development of the capital market.

More should be done to expedite the refinement of the basic institutional systems of the capital market, improve key systems such as listing, trading, and delisting, and promote a virtuous cycle of investment and financing, he said. Li also underscored the importance of maintaining a dynamic balance between listing and delisting activities.

The premier also called for efforts to improve the quality of listed companies and bolster regulatory oversight on entry into the capital market.

Work should be done to intensify oversight of the capital market, and illegal and non-compliant activities should be punished more strictly, he said.

Highlighting the pivotal role of a stable and healthy capital market in driving economic development and boosting national governance, Li urged efforts across all related sectors to strengthen coordination to foster synergy in propelling the high-quality development of the capital market. Enditem

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