The reform will focus on major fields and weak links such as key industrial chains of the manufacturing sector, science and technology innovation and private enterprises, the China Securities Regulatory Commission (CSRC) said in a statement on its website.
In terms of strengthening the high-level institutional opening up of the capital market, the regulator said it will push for establishing long-term arrangements of China-U.S. audit oversight cooperation and create a more stable and predictable international oversight cooperation environment.
The CSRC said it will promote the implementation of the reform in the overseas listing system for domestic firms, deepen cooperation between the capital markets of the Chinese mainland and Hong Kong, and support Hong Kong in consolidating its status as an international financial center.
To support the stable development of the property market, the regulator said it will increase efforts to ensure the implementation of supportive measures concerning the capital market to help the real-estate sector transform its development model.
The CSRC also vowed to keep the capital market running steadily, and to encourage medium- and long-term funds such as social security funds, insurance funds and enterprise annuities to increase their investment in the capital market.
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