China’s top securities authority has outlined a total of six key areas for “comprehensive deepening” of regulation of the Chinese bond market this year.
The China Securities Regulatory Commission (CSRC) convened its 2023 Bond Regulatory Work Conference (2023年债券监管工作会议) on 10 February, for the purpose of “in-depth study and implementation of the spirit of the 20th National Congress of the Communist Party of China and the spirit of the Central Economic Work Conference, implementing the arrangements of the 2023 CSRC system work conference, summarising bond supervisory and regulatory work, analyzing the current situation, and studying and deploying the key tasks for bond supervision and regulation in 2023.”
With regard to bond regulatory work in 2023, the CSRC meeting outlined a total of six areas for “comprehensive deepening”:
Comprehensively deepening the role of the bond market: highlighting service of steady growth and the development of the real economy, and helping to increase the share of direct financing.
Comprehensively deepening prevention and resolution of key bond-related risks: striving to further reduce the risk of bond default, and protect the legitimate rights and interests of investors.
Comprehensively deepening the development of the REITs market: upholding equal emphasis on development and regulation, and fully promoting the high-quality development of the REITs market.
Comprehensively deepening the reform of the bond registration system: strengthening the development of basic market systems, and enhancing market resilience and vitality.
Comprehensively deepening bond regtech: improving supervisory systems and mechanisms in accordance with the characteristics of bonds.
Comprehensively deepening the implementation of party governance duties: strengthen positive conduct and discipline, and firmly promote the effective improvement of quality and rational growth of the exchange bond market, in order to better service high-quality economic development and establish new development conditions. Actively contribute to the progress of Chinese-style modernization.