Finance Committee of the State Council: Zero Tolerance against Capital Market Fraud

Finance Committee of the State Council: “Zero Tolerance” against Capital Market Fraud
Sauna Night News is said to be the news of the Chinese government website. On May 4, the State Council Financial Stability Development Committee (hereinafter referred to as the Financial Committee) held the 28th meeting to listen to support the economic recovery, accelerate the reform and development of small and medium banks, and crack down on the capital market.Report on the progress of work such as counterfeiting.The meeting was chaired by Liu He, member of the Political Bureau of the CPC Central Committee, vice premier of the State Council, and director of the Finance Committee. The members of the Finance Committee and related comrades participated in the meeting.The meeting pointed out that since the outbreak of the epidemic, the Financial Committee and member units have carefully implemented the Party Central Committee and the State Council ‘s decision-making and deployment, accelerated the pace of work, and strengthened the relevance of policies to “steady expectations, expand scale, capture by category, renew the period, createThe policy certainty of the “tools”, hedging the impact of the epidemic situation and the many uncertainties brought about by the economic downturn, financial support for the real economy continues to expand.Under the indicators of short-term turbulence in the global financial market, the stock market, bond market and foreign exchange market in the past have gradually operated and realized gradually.The meeting requested the Financial Committee units to improve the macro plan, create effective demand, optimize the supply structure, maintain reasonable and sufficient liquidity, improve policy quality, and pay close attention to policy implementation.The meeting believed that small and medium-sized banks are of great significance for serving the real economy and small and medium-sized enterprises.Relevant departments have formulated work plans for deepening reforms and replenishing capital of small and medium-sized banks, and we must pay close attention to the extension.Reform and development must be organically combined, based on serving grassroots and small, medium and micro enterprises, while enriching capital, solving outstanding problems in small and medium-sized banks in terms of business positioning, corporate governance, credit costs, etc., and promoting a virtuous cycle of governance structure and business development.The leaders of the meeting must resolutely safeguard the interests of investors, tighten market discipline, and have “zero tolerance” for counterfeiting in the capital market.We must adhere to the principles of marketization and rule of law, improve the information disclosure system, resolutely crack down on financial fraud, insider trading, market manipulation and other violations of laws and regulations, and resolutely investigate and seriously deal with fraudulent listed companies, intermediaries and individuals.The meeting pointed out that it is necessary to pay close attention to the risks of some financial products caused by the current price changes in the international commodity market, raise risk awareness, and strengthen risk management and control.It is necessary to control spillovers, grasp moderation, improve professionalism, abide by contracts, clarify responsibilities, and protect the legitimate interests of investors.The meeting also studied other matters.Editor Ni Yannan Source: China Government Network