In the latest edition of "Qiushi" magazine, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), authored an article titled "Striving for a New Era of High-Quality Development in the Capital Market." He underscored the necessity for the capital market to adhere to its core responsibilities, enhancing regulatory enforcement efficiency and investor protection. Wu Qing highlighted the importance of integrating punishment, prevention, and governance, refining the regulatory enforcement framework, harnessing the collaborative regulatory strengths of the CSRC, its branches, and exchanges, reinforcing the restorative and corrective functions of routine supervision, and decisively combating major malicious violations.
Concretely, this involves swiftly, accurately, and severely investigating and addressing instances of financial fraud, "hollowing out" of listed companies, and serious market manipulation, while leveraging legal measures to hold perpetrators accountable. Furthermore, he advocated for deepening the rule of law in the capital market, accelerating legislative and revision efforts in key areas, introducing policies to safeguard small and medium investors, and refining systems such as class action suits and commitments by parties.
Simultaneously, Wu Qing emphasized the pivotal role of technology in bolstering supervision, advocating for the use of big data and other technological tools to break down data silos and thereby elevate the precision and efficacy of oversight.
