Shang Fulin: Speed Up The Construction Of Multi-Level Capital Market System

Party secretary and chairman of the China Securities Regulatory Commission

On the afternoon of December 13th, the Central Committee of the China Securities Regulatory Commission held a meeting. Shang Fulin conveyed the spirit of the central economic work conference, talked freely about learning experience, and put forward requirements for the current and future work in the light of the reality of the capital market.

Members of the CSRC Central Committee participated in the study and discussion.

Shang Fulin said that the just concluded central economic work conference was a very important meeting under the background of the deep adjustment of the world economic structure and the upcoming five years of China's economic and social development.

The conference summed up the achievements of the 11th Five-Year and the economic and social development of China this year, scientifically analyzed the current international and domestic economic situation, and comprehensively deployed the economic work in 2011.

The important speech of general secretary Hu Jintao and Premier Wen Jiabao was in a strategically advantageous position, taking the whole situation into full play, taking the whole situation into full play, conforming to the overall situation, having a clear connotation, highlighting the theme of scientific development and speeding up the pformation of the mode of economic development. It clarified the general requirements, important principles and main tasks of next year's economic work, and made a comprehensive arrangement for the economic work next year, which fully embodied the spirit of the 17th CPC Central Committee and the spirit of the seventeen third, fourth and fifth plenary session of the third Central Committee and the requirements of Scientific Outlook on Development. It is of great significance for the unification of the whole party to understand and consolidate the national strength and to make a good start and a good step for the economic and social development of China in the "12th Five-Year" period.

Shang Fulin said that since the beginning of this year, the SFC Party committee has conscientiously implemented the decision-making and deployment of the Party Central Committee and the State Council, constantly strengthened the market infrastructure system, improved the market system and mechanism, deepened the reform and innovation of the market, launched the stock index futures smoothly, launched the pilot scheme for margin trading and margin trading of securities companies, deepened the reform of the IPO system, vigorously promoted the merger and reorganization of listed companies, worked hard to ensure the smooth operation and mechanism improvement of the gem, and severely cracked down on market illegal activities such as insider trading, and made important breakthroughs in promoting market development.

According to the spirit of this economic work conference, the SFC must conscientiously plan its work, deepen reform, unswervingly advance market development, strengthen market supervision, improve market mechanism and efficiency, adhere to the principle of "three principles", give full play to the functions of capital market in serving the development of national economy, and make greater contributions to changing the mode of economic development and maintaining stable and healthy operation of the economy.

First, we should unify our thoughts and improve our understanding.

All units and departments should take the spirit of the central economic work conference as an important political task at present and earnestly study the spirit of the important speech of general secretary Hu Jintao and Premier Wen Jiabao.

Through in-depth study, we will guide the cadres to fully grasp the essence of the central economic work conference (A02 version).

(up to the A01 version) we should integrate our thoughts and actions into the scientific judgment of the central and international situation by the central authorities, and unify our decisions and arrangements for the economic and social development of the Central Committee, and firmly strengthen the confidence and determination of the reform and development of the capital market and the supervision of securities and futures.

Two, we should clarify the development ideas and make clear the priorities of next year's work.

All units and departments should conscientiously sum up the supervision work this year, and further deepen their understanding of the law of supervision.

On this basis, in accordance with the spirit of the fifth Plenary Session of the 17th CPC Central Committee and the central economic work conference, guided by Scientific Outlook on Development, we should strengthen market infrastructure, improve market system and mechanism, improve market supervision, and further promote market reform and innovation.

We must speed up the construction of a multi-level capital market system, raise the level of direct financing, actively develop OTC market, bond market and futures market, further clarify the work ideas and objectives, work hard and strive to achieve breakthroughs.

Three, we should continue to work steadily and orderly to advance the work at the beginning of the year.

All units and departments should check the deployment of the securities and futures supervision working conference at the beginning of this year and the requirements put forward by the principal leaders of the securities and futures supervision system, carefully examine the completion of the key work this year, and comprehensively carry out the implementation of the work.