Regulator reveals work plan for year ahead

China’s top securities regulator revealed its work plan for 2021, highlighting deeper system reforms and stricter regulations.

The China Securities Regulatory Commission said it will further advance reform of the registration system, aiming to achieve its full-market application, Yi Huiman, chairman of the CSRC, said at a work conference on Thursday.

Regulations on delisting will be tightened, while the commission will expand multiple exit channels such as reorganization and voluntary delisting. 

The New OTC (Over the Counter) Market will also see deeper reforms.

Yi vowed to strengthen supervision over information disclosure of companies to be listed, to practically enhance risk prevention and avoid disorderly expansion of capital.

Meanwhile, the commission plans to improve the market’s endogenous stability mechanism, push forward investment-side reform with greater efforts, and increase the supply of equity fund products and innovation in services.

It will push forward the policy of investing personal pensions in public funds as soon as possible, and optimize the medium- and long-term capital market environment.

Efforts will be made to maintain the normalization of initial public offerings and refinancing activities, and optimize the system of commodities and financial futures and options.

The commission also pledged to closely watch market liquidity and financial leverage.