Heavy! The Office of the State Council of the People’s Republic of China issued a document to present specific requirements on the reform of the registry system, the implementation of the delisting system and the cultivation of institutional investors.

Original title: Heavy! The Central Office of the State Council issued a document to present specific requirements on the reform of the registry system, the implementation of the exclusion system and the cultivation of institutional investors.

According to the Xinhua News Agency, the General Office of the Central Committee of the Communist Party of China and the General Office of the State Council recently issued the “Action Plan for the Construction of a High-Level Market System” and issued a notice that It requires all regions and departments to implement it conscientiously in light of the actual conditions.

As for promoting the healthy development of the capital market, the plan sets the following specific requirements:

　　Steadily advance the reform of the share issuance registration system.Hold on tightScience and Technology Innovation BoardPositioningHighlight the characteristics of “hard technology”, evaluate and improve the pilot arrangements of the registry system, and deepen the reform of the share issuance registry system with information disclosure as the core. Improve the investor protection system and establish a relationship with the market sectors,productThe investor suitability system that matches the characteristics of the risk encourages and regulates the listingthe companycashDividends. Strengthen capital market supervision, improve the comprehensiveness, consistency, scientificity and effectiveness of supervision, and improve the transparency of supervision and the level of rule of law. Financial reform measures with inadequate supervision cannot be launched hastily. Adhere to zero tolerance for violations of laws and regulations to ensure stable and long-term financial reform.

　　Establish a standard exclusion mechanism for lists.Further improve delisting standards, simplify delisting procedures, and smooth diversified exit channels. Strictly implement the de-listing system, resolutely delisting those who meet the de-listing standards, and cracking down on those who maliciously circumvent the de-listing standards.

　　Cultivate institutional investors in the capital market.Stable progressBankFinancial managementSubsidiary andinsuranceasset ManagementEstablishment of the company,encourageBankYBankSecurities of the wealth management subsidiary in accordance with laws and regulations and qualified securitiesbackgroundOperational organization andTo start a businessInvestment funds, government financingindustryMutual fund cooperation, perfect researchinsuranceInstitutional investment in private equity financial products, private equity funds,Risk capitalFunds, government fundingIndustrial investmentFunds and bondsConversionRelated Policies. Increase various types of pensions,insuranceThe proportion of equity investment in long-term funds, such as equity, will be evaluated over a long period of time.

　　Reduce the cost of financing the real economy.Solid marketinginterest rateTraining and transmission mechanism to promote bank quotations in the credit marketinterest rate(LPR) to guide and urge financial institutions to be reasonablePrices, Play goodDirected RRR, Refinancing,rediscountWaitcoinThe guiding role of political tools. Actively and constantly develop inclusive finance and actively and constantly promote innovation in financial services products and methods Strengthen the promotion of the “Xinyi Loan” model and support developmentcreditFinancing, extension of loan guaranteePromise物 Scope.

(Source: Shanghai Securities News)

(Editor in charge: DF075)