China expanded the assessment cycle of medium and long-term capital to three years, as part of efforts to boost medium- and long-term funds' flow into the capital market, an official said at a press conference in Beijing on Thursday.
Wu Qing, chairman of the China Securities Regulatory Commission, said the expansion will enhance the stability of medium and long-term capital investment behavior.
"Implementing long-term assessment can effectively iron out the impact of short-term market fluctuations on performance. Even the long-term capital faces challenges in making long-term investment with the short assessment cycle, expanding the assessment cycle will improve the stability of medium and long-term capital investment behavior," said Wu.
"The Implementation Plan further proposed that public funds, state-owned commercial insurance companies, basic pension insurance funds, annuity funds should be fully established and implemented long-term assessment for more than three years," he said.
Under the plan, the long-term assessment of the operating performance of state-owned commercial insurance companies should be fully implemented for more than three years. The assessment weight of return on equity of that year should not be higher than 30 percent, and the weight of three-year to five-year cycle indicators should not be less than 60 percent.
China expands capital assessment cycle to 3 years to boost long-term investment
China is ready to work with Argentina to implement the important consensus reached by the leaders of the two countries and bring the bilateral relations to a new level, Chinese Foreign Minister Wang Yi said on Friday.
This will benefit the people of the two countries and help China and Latin America achieve common development and prosperity, Wang said. He made the remarks during a meeting with his Argentine counterpart Gerardo Werthein on the sidelines of the ongoing Munich Security Conference.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that the Chinese and Argentine people have enjoyed a long-standing friendship, and China-Argentina cooperation is equal and mutually beneficial.
Last year, Chinese President Xi Jinping and Argentine President Javier Milei held a meeting and reached important consensus on consolidating and developing bilateral relations, said Wang.
China is willing to work with Argentina to implement the consensus reached by the two heads of state and strengthen exchanges at the high level and in all fields, so as to bring the bilateral relations to a new level and better benefit the people of both countries, he said.
Wang also said the two sides should continue to respect and accommodate each other's core interests and major concerns, and continuously consolidate the political foundation of bilateral relations.
Wang pointed out that China does not seek spheres of influence, nor does it participate in geopolitical competition. In international affairs, China firmly practices multilateralism and is willing to work with Latin American countries, including Argentina, to firmly safeguard the international rule of law and the basic norms of international relations, he said.
Wang noted that China-Argentina relations are an important part of China-Latin America relations. Over the past decade since its establishment, the China-Community of Latin American and Caribbean States (CELAC) Forum has effectively promoted China-Latin America cooperation and brought tangible benefits to the people of both sides, he said.
China is willing to work with Latin American countries to support the development and growth of the China-CELAC Forum, helping China and Latin America achieve common development and prosperity, said Wang.
Werthein said that Argentina attaches great importance to its relations with China, and looks forward to strengthening high-level exchanges and deepening pragmatic cooperation with China.
Noting that Argentina appreciates China's support for Argentina's defense of its sovereignty over the Malvinas Islands, Werthein said Argentina firmly adheres to the one-China principle and is willing to become a reliable and stable cooperative partner of China.
Werthein also said that Argentina will play an active role in promoting the development of Latin America-China relations on the basis of strengthening bilateral relations.
China ready to push ties with Argentina to higher level: FM