2024-01-24 10:25:43
In response to stock market fluctuations, investor protection, capital market supervision, monetary policy and other issues, the National Standing Committee and various ministries and commissions have recently made intensive statements and revealed heavy signals.
The National Standing Committee emphasized the need to take more powerful and effective measures to stabilize the market and stabilize confidence.
The central bank’s fourth quarter regular meeting emphasized the need to intensify the implementation of monetary policies that have been introduced. Pan Gongsheng, governor of the central bank, said on January 24 that the deposit reserve ratio would be lowered by 0.5 percentage points on February 5.
The State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance evaluation of leaders of central enterprises, and stated that it will focus on improving the quality of listed companies controlled by central enterprises and strengthening investor returns.
Li Yunze, director of the State Financial Supervision and Administration Bureau, said in his speech at the 17th Asian Financial Forum: Further deepen the interconnection between the financial markets of the mainland, Hong Kong and Macao.
The China Securities Regulatory Commission held its first press conference in 2024 on January 12 and stated that the current A-share market valuation level is at a historically low level and has high investment value in the long term. Wang Jianjun, vice chairman of the China Securities Regulatory Commission, said in an interview on January 24 that we should build an investor-oriented capital market; we should not bring companies without long-term returns to the market; we should vigorously promote listed companies to repurchase and cancel, increase dividends, etc. Better returns to investors.
Standing Committee of the State Council: More powerful and effective measures must be taken to stabilize the market and confidence, and promote the stable and healthy development of the capital market
Premier Li Qiang chaired an executive meeting of the State Council on January 22. The meeting emphasized the need to further improve the basic system of the capital market, pay more attention to the dynamic balance of investment and financing, vigorously improve the quality and investment value of listed companies, increase the entry of medium and long-term funds into the market, and enhance The inherent stability of the market. It is necessary to strengthen capital market supervision, have “zero tolerance” for violations of laws and regulations, and create a standardized and transparent market environment.We must take more powerful and effective measures to stabilize the market and confidence. It is necessary to enhance the consistency of macro policy orientations, strengthen innovation and coordination of policy tools, consolidate and enhance the positive economic recovery, and promote the stable and healthy development of the capital market.
Central Bank: It will lower the deposit reserve ratio by 0.5 percentage points on February 5 to create a good monetary and financial environment for the operation of financial markets.
Pan Gongsheng, governor of the central bank, said at a press conference of the State Council Information Office on January 24 that the People’s Bank of China will lower the deposit reserve ratio by 0.5 percentage points on February 5 to provide the market with long-term liquidity of about 1 trillion yuan; it will be lowered tomorrow. To support agriculture and small businesses, the re-loan and re-discount interest rates are 0.25 percentage points, and the overall social financing cost has been steadily reduced.
In addition, Pan Gongsheng, governor of the central bank, also said today that at present, my country’s macro economy continues to rebound for the better, with large macro policy space and room for maneuver, and a solid foundation for the stable and healthy development of the capital market. The People’s Bank of China will strengthen the counter-cyclical and inter-cyclical adjustment of monetary policy tools, strive to stabilize the market and confidence, consolidate and enhance the positive economic recovery, and create a good monetary and financial environment for the operation of financial markets, including capital markets.
State-owned Assets Supervision and Administration Commission of the State Council: Will further study the inclusion of market value management in the performance evaluation of central enterprise leaders
At a press conference held by the State Council Information Office on January 24, Xie Xiaobing, head of the Property Rights Management Bureau of the State-owned Assets Supervision and Administration Commission of the State Council, introduced,The State-owned Assets Supervision and Administration Commission of the State Council will further study the inclusion of market value management in the performance evaluation of heads of central enterprises.Guide the heads of central enterprises to pay more attention to and pay more attention to the market performance of the listed companies they hold, promptly use market-oriented methods such as increase in holdings and buybacks to convey confidence and stabilize expectations, and increase cash dividends to better reward investors. .
Yuan Ye, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, said that at the beginning of this year, the State-owned Assets Supervision and Administration Commission of the State Council deployed special actions to improve quality, increase efficiency and stabilize growth, so as to effectively play the key role of effective investment. at the same time,Efforts will be made to improve the quality of listed companies controlled by central enterprises and strengthen investor returns.Strengthen lean management and make more contributions to economic and social development by comprehensively improving the operational quality and efficiency of central enterprises.
State Administration of Financial Supervision: Further deepening the interconnection between the financial markets of the mainland, Hong Kong and Macao
The 17th Asian Financial Forum was held in Hong Kong. Li Yunze, director of the State Financial Supervision and Administration Bureau, said in his speech that we will further deepen the interconnection between the financial markets of the mainland and Hong Kong and Macao, continue to optimize the cross-border wealth management link pilot, support more qualified investors to participate, continue to expand the scope of qualified investment products, and support financial institutions to actively Participate in institutional arrangements such as the Shanghai-Shenzhen-Hong Kong Stock Connect and Bond Connect, and study and introduce policies and measures to improve the service-oriented and service facilitation level of insurance in the Greater Bay Area.
China Securities Regulatory Commission: Building an investor-oriented capital market
Wang Jianjun, vice chairman of the China Securities Regulatory Commission, said on January 24 that during this period, the capital market has been weakening and volatility has increased. Many investors are deeply worried and have put forward opinions and suggestions. We listen carefully and empathize. We know very well that only when the majority of investors have a real sense of gain can the stable and healthy development of the capital market have a solid foundation, thereby truly stabilizing the market and stabilizing confidence.
Wang Jianjun said that we will improve the evaluation mechanism of sponsor institutions and highlight the quality assessment of its sponsor companies, especially the assessment of investor returns.You cannot bring a company to the market that has no long-term returns.
The quality of listed companies is prominently reflected in the returns to investors. Listed companies must firmly establish the awareness of returning shareholders. Without reasonable returns, they are not qualified listed companies. Investors want returns when buying stocks. The long-term returns from the stock market must be higher than the returns from deposits and bonds to be more sustainable. We will further improve the quality evaluation standards for listed companies and highlight return requirements.Vigorously promote listed companies to better return investors through repurchases, cancellations, and increased dividends.
To build an investor-oriented capital market, supervision must be comprehensively strengthened in accordance with the law, especially to strengthen the supervision of listed companies. We will resolutely crack down on illegal activities that seriously damage the interests of investors, such as fraudulent issuances, so that they will “go bankrupt and sit in jail.” All intermediaries involved in fraud should be held accountable, so that they are too painful to do anything again.
China Securities Regulatory Commission: The two ends of investment and financing generally maintain balanced development, and there is no such thing as “only focusing on financing and not investing”
Shen Bing, director of the Institutional Department of the China Securities Regulatory Commission, said at a press conference on January 19 that only when new high-quality companies are listed on the capital market can this group be kept alive and this cornerstone can be continuously consolidated.“We don’t only focus on financing but not on investment.”Shen Bing said that in the new stage of promoting the deepening and solidification of the registration system reform, the China Securities Regulatory Commission will comprehensively benchmark and benchmark the spirit of the Central Financial Work Conference, further establish the investor-centered market development concept, further deepen the reform, and promote investment and financing. The coordinated development of both ends will continue to enhance the attractiveness of the capital market and the long-term returns of investors.
Shen Bing also said that the issue of pre-term stock lending and securities lending has attracted market attention. In order to maintain market fairness and combat various improper arbitrage behaviors,The China Securities Regulatory Commission has intensified its supervision of the lending and borrowing of restricted stocks.
China Securities Regulatory Commission: The current A-share market valuation level is at a historical low, and it has high investment value in the long term.
Lin Xiaozheng, deputy director of the Institutional Department, said that since 2023, going against the market trend has become the market consensus. Industry organizations generally believe that, on the one hand, the basic trend of China’s economic recovery and long-term improvement has not changed; on the other hand,The current A-share market valuation level is at a historical low, and it has high investment value in the long term. At this stage, we are facing a better time window to deploy against the market trend, which is conducive to investors obtaining better investment returns.
In the next step, the China Securities Regulatory Commission will continue to support industry organizations’ counter-cyclical layout, and will study and formulate a “counter-cyclical layout” incentive and restraint mechanism. The focus is to guide industry organizations to put functionality first and effectively play the role of “entrusted by others and acting on behalf of others”. “Personal financial management” role, strengthen the positive incentives for counter-cyclical layout, guide institutions to practice long-term investment and value investment, and effectively enhance investors’ sense of gain.
China Securities Regulatory Commission: The registration system is not about “whoever wants to issue, and how much they want to issue”
Zhou Xiaozhou, the main person in charge of the Comprehensive Business Department of the China Securities Regulatory Commission, said that on the one hand, the registration system does not mean relaxing quality requirements, but rather stricter review and control.It’s not that anyone can post whatever they want or as much as they want.Adhere to the principle of “taking responsibility upon reporting” and severely punish those who “break through the border while sick” and “withdraw immediately upon investigation”. on the other hand,The implementation of the registration system requires strict punishments and strict laws, and strict laws and regulations to deal with chaos.We insist on “zero tolerance” to crack down on serious violations of laws and regulations such as fraudulent issuance and financial fraud, and promote the establishment of a three-dimensional punishment and restraint system of administrative penalties, civil compensation, and criminal liability to protect the legitimate rights and interests of investors.
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(Source of article: Financial Associated Press)
Source of article: Financial Associated Press
Original title: Investor-oriented, the China Securities Regulatory Commission has released a major signal!The Standing Committee of the State Council, the State-owned Assets Supervision and Administration Commission, and the Central Bank intensively released new benefits to the market
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