Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Finance

    Securities Law set to boost capital market

    By Li Xiang | China Daily | Updated: 2020-02-25 10:53
    Share
    Share - WeChat
    A view of the entrance of the Shanghai Stock Exchange. [Photo by Sha Lang/For China Daily]

    Revised Act forms legal basis for nation to improve transparency and fairness of sector, enhance investor confidence

    The revised Securities Law, which becomes effective on Sunday, will lay a solid foundation for China's capital markets to become more market-oriented and rules-based, analysts said.

    The new law will set the legal basis for the country to adopt a market-based initial public offering system and abolish administrative approval for issuing new shares.

    It will also step up punishment for rule violations, enhance protection for investors' rights and interests, and substantially raise the cost companies and individuals will face if they engage in illegal activities such as financial fraud, insider trading and market manipulation, they said.

    The adoption of the long-awaited law will help improve the transparency and fairness of the Chinese capital market and boost investor confidence in a market that has experienced illegal activities and unfair market practices, the analysts added.

    "The revised Securities Law marks a crucial step by China on the way to developing a more market-oriented and rules-based capital market and it will have a substantial effect on the Chinese capital market," said Wang Yang, a researcher of finance at the Development Research Center of the State Council, China's Cabinet.

    Yi Huiman, chairman of the China Securities Regulatory Commission, the country's top securities watchdog, said the adoption and implementation of the new securities law marks a new milestone in the development of the country's capital markets.

    The law helps improve and consolidate the basic system of the Chinese capital market and provides a crucial legal base for the country to further deepen key market-based reforms such as implementing the registration-based IPO system which has become a top priority, Yi said during a recent interview with Xinhua News Agency.

    The CSRC will draft and revise relevant supporting regulations and documents in accordance with the revised Securities Law as its implementation requires formulating and modifying a large number of supporting provisions to further improve the capital market regulatory system, Yi said.

    It was not plain sailing for the country's lawmakers to revise the Securities Law. The original law was in need of comprehensive revision as many provisions no longer fit the country's rapidly developing capital market and fall short of addressing acute legal issues facing the market.

    The revision work began in 2013.The legal process came to a standstill in the summer of 2015 as the A-share market was hit by sharp volatility.

    The market turbulence prompted the securities regulator and lawmakers to suspend the launch of the registration-based IPO system as they worried that the market would face greater pressure from a possible increase of new IPOs.

    The legal effort resumed after President Xi Jinping announced in November 2018 that the country would experiment with the registration-based IPO system at the technology-focused STAR Market on the Shanghai Stock Exchange.

    1 2 Next   >>|
    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    五十路熟妇高熟无码视频| 久久无码国产专区精品| 亚洲ⅴ国产v天堂a无码二区| 久久精品aⅴ无码中文字字幕不卡 久久精品aⅴ无码中文字字幕重口 | 国产精品无码不卡一区二区三区 | 人妻无码αv中文字幕久久琪琪布| 亚洲色偷拍区另类无码专区| 黄A无码片内射无码视频| 亚洲AV综合色区无码一区| 五月天中文字幕mv在线女婷婷五月| 中文在线资源天堂WWW| 99精品人妻无码专区在线视频区 | 免费无码中文字幕A级毛片| 日韩人妻无码一区二区三区久久99| 久久精品中文闷骚内射| 中文字幕乱码中文乱码51精品| AV无码久久久久不卡蜜桃| 精品人妻系列无码天堂| 亚洲av永久无码精品网站| 国产在线无码精品电影网| 无码人妻丰满熟妇区BBBBXXXX| 色噜噜综合亚洲av中文无码| 亚洲中文字幕无码爆乳av中文| 国产av无码专区亚洲国产精品 | 日韩乱码人妻无码中文视频| 99无码人妻一区二区三区免费| 色爱无码AV综合区| 精品无码一区二区三区爱欲 | 国产激情无码视频在线播放性色| 熟妇人妻AV无码一区二区三区| 亚洲av无码成人黄网站在线观看| 亚洲av永久无码精品表情包| 亚洲国产一二三精品无码| 亚洲成AV人片在线观看无码| 亚洲AV综合色区无码另类小说| 亚洲AV日韩AV永久无码下载| 未满十八18禁止免费无码网站| 无码乱人伦一区二区亚洲| 国产在线拍偷自揄拍无码| 久久综合一区二区无码| 最好看的2018中文在线观看|