China's securities regulator on Tuesday vowed to make greater efforts to bolster regulatory oversight and forestall risks of the capital market.
Speaking at a press conference in Beijing, Wu Qing, head of the China Securities Regulatory Commission (CSRC), highlighted the improvement in the country's market ecosystem since the beginning of this year, noting that the regulatory body had investigated 577 cases of securities and futures violations by the end of August.
China-listed firms registered record cash dividends totaling 2.2 trillion yuan (about 310 billion U.S. dollars) for 2023, according to Wu.
The country has seen a steady growth in the bond and futures markets, with 8.9 trillion yuan (about 1.26 trillion U.S. dollars) of bond issuances in the first eight months of the year, he said.
Looking ahead, the CSRC will enhance the underlying stability of the capital market, prioritize returns for investors, and improve the quality and investment value of listed companies, Wu said.
"We will issue a guideline to promote the entry of medium and long-term funds into the capital market, further refine the policy toolbox to safeguard the bottom line of fending off risks. We will also roll out a set of six measures to promote merger, acquisition and reorganization, and work with the various parties concerned to facilitate the circulation of private equity and venture capital funds in the process of fundraising, investment, management and withdrawal. Firm actions will be taken to resolutely crack down on illegal activities such as financial fraud and market manipulation," he said.
China's securities regulator vows to enhance capital market regulation, risk prevention
