China's top finance, securities regulators vow to implement measures stressed in key economic meeting
Published: Nov 02, 2023 01:29 AM
Lujiazui Photo:VCG

A view of Lujiazui in Shanghai Photo:VCG

The National Administration of Financial Regulation (NAFR) and the China Securities Regulatory Commission (CSRC) on Wednesday held meetings to advance the implementation of the measures emphasized during the central financial work conference that concluded on Tuesday.

The NAFR emphasized the need for financial services to aid the real economy, while also prioritizing risk prevention, financial innovative development, supply side structural reformation, and the opening and safety of financial markets.

The NAFR said it would strengthen market supervision, prevent and resolve risks by building a regulation system with Chinese characteristics, and facilitate Chinese-style modernization with a high-quality financial industry.

The CSRC stressed the need to implement economic support measures mentioned in the central financial work conference held on Tuesday, and vowed to enhance financial regulation, while warning about and resolving financial risks in advance. It also stressed the need to improve the development of the capital market.

The CSRC said it would further implement the registration-based IPO regime, improve the stock exchanges in Shanghai and Shenzhen to a world-class level, support the Beijing Stock Exchange, and lead market investment into the technology sector.

The central financial work conference, which is usually convened once every five years, mentioned multiple key policies including strengthening financial supervision, improving the financial system, optimizing financial services, and preventing and resolving risks. Analysts said it set the direction for China's financial policymaking for the years ahead.

Global Times