President Xi says China will deepen capital market reform, facilitate fair and orderly competition

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Chinese President Xi Jinping said Friday that China will deepen capital market reform and accelerate the positive role of capital as an important factor of production. China should encourage all types of capital to gain fair and equal access and facilitate orderly competition in the Chinese capital market.

Xi made the remarks during a group study session of the Political Bureau of the Communist Party of China Central Committee on Friday.

He said the country will promote the establishment of an open economy and expand openness to increase investment convenience in a bid to attract more international capital to come to China to invest or set up business enterprises in the country. .

Currently, the Chinese capital market involves a variety of capital inflows, including public capital, collective capital, private capital, foreign capital and hybrid capital, and the market is experiencing a significant increase in scale and a large inflow of international capital, Xi said. .

He stressed the need to intensify the enforcement of anti-monopoly and anti-unfair competition and crack down on monopolistic practices such as abuse of dominant market position.

A meeting held by the Political Bureau of the CPC Central Committee on Friday said it was necessary to respond to market concerns in a timely manner, steadily push forward the reform of the registration-based IPO system, and ‘attract long-term investors to ensure smooth operation. of the country’s capital market.

China’s capital market has helped the country achieve the goal of high-quality growth in 2021, both in terms of size and scope. Aggregate funding for IPOs and bond issues topped 10 trillion yuan ($1.5 trillion) last year, serving as strong support for the real economy, according to the China Securities Regulatory Commission. movables.

China’s capital market needs to find the right positioning and strategic point to better integrate with the country’s development agenda and continuously improve mechanisms for the high-quality development of the economy, said Dong Dengxin, director of the ‘Institute of Finance and Securities of Wuhan University of Science. and technology, told the Global Times.

Increased efforts must be made to help form a virtuous circle involving technology, capital and industrial growth. More capital should be directed to support the development of key sectors including technological innovation, low-carbon industries, high-tech manufacturing and small and medium enterprises, Dong said.

world times

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