xi's moments
Home | Finance

Improving regulations ensures fair market environment for retail investors

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-03-06 20:58

Wu Qing, chairman of the China Securities Regulatory Commission, attends a news conference on economy for the second session of the 14th National People's Congress in Beijing, March 6, 2024. [Photo/Xinhua]

China will improve a series of capital market regulations and strengthen crackdowns on illegal security behaviors to ensure a fair market environment for retail investors, according to Wu Qing, chairman of the China Securities Regulatory Commission.

"Protecting the lawful rights and interests of investors, especially small and medium-sized investors, is the most important and central task of the CSRC," Wu said on Wednesday while addressing a press conference of the ongoing second session of the 14th National People's Congress.

The CSRC will correct regulatory loopholes - such as when it comes to fake divorces, short selling and securities refinancing - to further restrict big shareholders' illegal shareholding reductions and improve relevant rules to better regulate quantitative trading to ensure market fairness.

Stricter standards for delisting will be launched while mandatory measures will be imposed against listed companies that do not payout dividends for years, Wu said, adding that the CSRC will encourage listed companies to give multiple dividends each year, in particular before the Spring Festival.

The CSRC will also substantially increase on-site inspections of companies under IPO reviews, Wu said. "IPO should not be used as a tool for making money."

He added that regulations regarding listing, mergers and acquisitions, and stock incentives also need to be refined to help promising listed companies grow stronger and better share the benefits of high-quality economic development with capital market investors.

Global Edition
BACK TO THE TOP
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349