Hot words of the two sessions: steady progress
On March 7th, Chairman Liu and Vice Chairman of China Securities Regulatory Commission attended the meeting. Two sessions? During this period, we once again expressed our position on the reform issues that the market is concerned about. Regarding the capital market reform concerned by the media, Liu once again stressed that the capital market reform should be steady and steady, right? A big step? .
Seeking stability is the core spirit that Liu has been adhering to since he took office. Not long ago, when Liu summed up his work in the past year at the press conference of the State Council Office, he used? Steady, strict and progressive? Sum it up in three words. In this regard, the CSRC has also made efforts from three aspects, as follows:
First, the policy is expected to be stable. By adhering to the reform direction of marketization, rule of law and internationalization, we will maintain the continuity of policies, unswervingly adhere to policies and practices that are supported by the market and effective in practice, fully respect market rules, conform to market demand, and maintain our work strength;
Second, the market is running smoothly. 20 16 The fluctuation range of Shanghai and Shenzhen stock markets narrowed, investors' confidence increased, the market operation tended to be stable, and the market function was obviously enhanced. Third, the pace of reform is steady. The CSRC adheres to the problem orientation, solves a series of outstanding problems after the abnormal fluctuation of the stock market with system reform, grasps the order of reform, and steadily and steadily.
Hot word 2: IPO
The CSRC has made great efforts to solve some outstanding problems in the capital market. Among them, the problem of IPO dammed lake is also a problem that Liu has frequently expressed recently.
In fact, at the regulatory meeting in early February, Liu said that it would take two to three years to solve the IPO dammed lake problem. In this regard, Liu Ye publicly stated in the media that in the communication with the market, they believed that the self-repair of the capital market was better than expected, and they had the conditions to appropriately increase the IPO in a timely manner. On the premise of respecting market mechanism, market rules and conforming to market demand, the CSRC proved through practice last year that the practice of speeding up IPO was also accepted by the market.
And on March 7, the media? Will IPO keep its current pace? When he asked Liu about it, he used? Feeling that your guess is similar? Make sure.
Hot word 3: delisting system
IPO issuance and improvement of delisting standards are carried out simultaneously. On March 7, Jacky Jiang, vice chairman of the CSRC, attended the joint meeting of economic sectors during the two sessions and said that the CSRC is currently revising and improving the delisting standards.
Jacky Jiang said that in the past, the CSRC delisted 5/kloc-0 companies. This year, the CSRC put forward new requirements for delisting. First, strengthen information disclosure and prevent financial fraud; Second, the intermediary agencies are required to do the duties of gatekeepers, and accountants and law firms should do their duty; Third, revise and improve the delisting standards, and the CSRC is currently doing this. Fourth, strengthen the front-line supervision of the exchange, so that the exchange can truly take responsibility and act according to law.
At the recent press conference of the State Council Office, Liu Zeng, chairman of the China Securities Regulatory Commission, said that the primary task of the China Securities Regulatory Commission is supervision. If there is a second task, it is also supervision. Is the third task still supervision? . Chairman Liu revealed? After a while, you may see some influential cases published by the CSRC. ?
Hot word 4: guard against financial risks
Preventing financial risks has become the key work of 20 17. The government work report proposes to steadily promote the reform of the financial supervision system, orderly resolve and dispose of outstanding risk points, rectify and standardize the financial order, and prevent and resolve financial risks? Firewall? .
Guo Shuqing, chairman of the China Banking Regulatory Commission, said that he would resolutely control all kinds of financial chaos; Actively participate in and fully cooperate with the construction of supervision and coordination mechanism, and improve the monitoring, early warning and prevention and control mechanism of systemic risks; Timely make up for the shortcomings of supervision, investigate the loopholes in the supervision system, and improve the supervision rules.
Liu, chairman of the China Securities Regulatory Commission, stressed that the Commission would not sit idly by and ignore barbarians, drug addicts and financial predators. Using the system to play the edge ball, it has an advantage in the capital market.
Xie Wei, a member of the Chinese People's Political Consultative Conference, also said that, first of all, the financial industry must be licensed to operate. Any financial enterprise must have a financial business license recognized by the regulatory authorities, which is undoubtedly the regulatory bottom line.
Hot word 5: New Third Board
The government work report proposes to deepen the reform of multi-level capital markets, improve the basic system of the main board market, actively develop the Growth Enterprise Market and the New Third Board, and standardize the development of regional equity markets.
He Qiang, a member of the Chinese People's Political Consultative Conference and a professor at the School of Finance of the Central University of Finance and Economics, said that only by lowering the threshold for investors can the liquidity of the New Third Board market be revitalized. At present, the trading volume of the New Third Board market is insufficient and the market is very inactive, which affects the function of the New Third Board in corporate financing and capital inflow into the real economy. This situation should not last forever and must be solved.
Only by lowering the capital threshold of 5 million yuan for investors in the New Third Board can we increase the capital entering the market. While lowering the threshold, we should strengthen market supervision, not at one time, but gradually, first to 3 million yuan, then to 6.5438+0 million yuan, and finally to cancel it completely.
Zhao Zhengping, vice chairman of the China Securities Regulatory Commission, said that this year's New Third Board reform will focus on improving market stratification, which will be the main line to promote other aspects of reform, and will be treated differently in terms of issuance, trading and supervision.
Hot word six: pensions enter the market
Social security is the foundation of people's livelihood, and it is also a hot topic of great public concern. Pensions entering the market will stabilize market expectations and help improve the value discovery ability of China's capital market.
Yin Weimin, Minister of Ministry of Human Resources and Social Security, said that the safety of investment and operation comes first, and the pension is the life-saving money of ordinary people (603883). To ensure the safety of investment and operation, various conditions are needed.
You Jun, Vice Minister of Ministry of Human Resources and Social Security, said that the implementation of pension fund investment operation is not equal to entering the market, and entering the market is only an option for pension fund investment, and market institutions will choose the opportunity to enter the market according to market conditions.
Xiao Jie, Minister of Finance, said that the Ministry of Finance has successively issued investment management measures and related supporting policies for basic old-age insurance funds. In violation of the provisions of the fund assets losses, should bear the corresponding liability for compensation according to law.
Hot Word 7: Amendment of Securities Law
On March 8, the Fifth Session of the 12th National People's Congress held its second plenary session. Chairman Zhang Dejiang said in his work report on the National People's Congress Standing Committee (NPCSC) that the securities law will be revised this year.
Fu Ying, spokesman for the Fifth Session of the 12th National People's Congress, revealed at a recent press conference that the revised draft of the Securities Law has been revised and is expected to be submitted to the National People's Congress Standing Committee (NPCSC) for further consideration in April this year.
Wu Xiaoling, deputy director of NPC Financial and Economic Committee, said that the first draft strengthened information disclosure, strengthened the protection of investors, increased relief channels and strengthened the supervision means of the regulatory authorities.
Under the background of multi-level capital market construction, will the revised Securities Law expand the scope of supervision and redefine it? Securities? It has become the focus of attention in the industry.