Financial Stability and Development Committee Commits to “Raising Cost” of Capital Market Legal Infractions

 -  -  11


One of China’s top financial authorities has flagged accelerated efforts to strengthen regulation of domestic capital markets.

The State Council’s Financial Stability and Development Committee (国务院金融稳定发展委员会) (FSDC) convened its 7th meeting for relevant work arrangements on 31 August according to an official Chinese government website.

According to the meeting the FSDC will work to “expand the vigour of counter-cyclical macro-economic adjustments, and expend great effort in clearing out monetary policy transmission.”

The FSDC will also “improve capital market legal regulatory systems, accelerate the amendment of relevant laws and regulations, strengthen the pursuit of legal liability, greatly increase the cost of legal breaches, and strictly punish various fraud and legal breach cases that have recently emerged.”

“[We] need to further deepen capital market reforms, uphold the direction of marketisation, the rule of law and internationalisation; uphold the pursuit of progress amidst stability, strengthen high-level capital market design, improve fundamental systems, increase the quality of listed companies, firmly cultivate various types of institutional investors, and create excellent conditions for more long-term funds to enter the market,” said an official statement.

11 recommended
comments icon 0 comments
0 notes
108 views
bookmark icon

Write a comment...

Your email address will not be published. Required fields are marked *