China Securities Regulator Vows to Strengthen Oversight, Resolve Risks

China Securities Regulator Vows to Strengthen Oversight, Resolve Risks
Photo: Reuters 18.06.2024 321

China's securities regulator said on Tuesday it will strengthen regulation of all financial activities and prevent and resolve risks, in a move to improve and reform financial markets amid a wobbly economic recovery.

The China Securities Regulatory Commission (CSRC) said in a statement it will maintain a "zero-tolerance" stance on illegal activities in the capital market.

"Preventing and defusing financial risks, especially preventing systemic financial risks, is the fundamental task of financial work," the CSRC said in a statement.

The comments came a day before the Lujiazui Forum in Shanghai, a top financial forum where officials of the CSRC, including Chairman Wu Qing, will deliver speeches on capital market policies.

Chinese authorities are stepping up efforts to revive investor confidence in the world's second-biggest stock market. The blue-chip index has rebounded from five-year lows hit in February but is still struggling to get back on its feet, weighed down by the sputtering economy and geopolitical tensions.

Data on Monday showed China's May industrial output lagged expectations as a prolonged property crisis weighed on investment and activity, putting more pressure on Beijing to ramp up policy support to shore up growth. But retail sales beat forecasts thanks to a holiday boost.

The CSRC said it will step up monitoring of trading behaviour by key investors and prevent abnormal stock market volatility, adding it will improve regulation of quant trading and strengthen supervision over high-frequency trading.

The regulator also said it will strengthen the scrutiny of company listings and delistings.

Source: Reuters

China 

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