CSRC: Accelerate the introduction of guidelines for market value management of listed companies.

Recently, the China Securities Regulatory Commission (CSRC) held an expanded meeting of its party committee to study the spirit of the Central Political Bureau meeting on September 26 and discuss the deployment of implementation measures. The meeting emphasized the need to promote the implementation of the guiding opinions on the entry of medium and long-term funds into the market, focusing on improving the key of fund supply, increasing the size and proportion of equity funds, and striving to create long-term stable returns for investors. It also highlighted the need to promote the enhancement of the quality and investment value of listed companies, implement the newly released "six merger rules" effectively, and quickly introduce a batch of typical cases to promote industrial integration and resource optimization, as well as better serve the development of new productive forces. Additionally, it urged the timely release of guidelines for market value management of listed companies and support for the effective use of policy tools by listed companies. The meeting also emphasized the importance of strengthening coordination between various ministries, actively cooperating to implement monetary policy tools such as the exchange of securities, funds, and insurance companies, and special refinancing for stock repurchases and shareholdings. It aimed to enhance the intrinsic stability of the capital market and better support economic stability, market stability, and stability of expectations. The original text is as follows: The CSRC held an expanded meeting of the party committee to deepen the study and implementation of the spirit of the Central Political Bureau meeting. Recently, the CSRC held an expanded meeting of the party committee, earnestly conveying and studying the spirit of the Central Political Bureau meeting on September 26, and discussed the deployment of implementation measures. Wu Qing, Secretary of the Party Committee and Chairman of the CSRC, presided over the meeting and delivered a speech. The meeting pointed out that the recent Central Political Bureau meeting conducted a profound analysis of the current economic situation, made a series of important deployments around the effective implementation of existing policies, and introduced new policies. The CSRC system should earnestly improve its political stance, focus on revitalizing the capital market, strengthen responsibility, coordinate risk prevention, strengthen supervision, promote development, and fully implement the decisions and deployments of the Party Central Committee through effective actions to promote the high-quality development of the capital market and actively contribute to the fulfillment of the annual economic and social development objectives. The meeting emphasized the need to focus on promoting the implementation of the guiding opinions on entry of medium and long-term funds into the market, grasp the key of improving the supply of funds, vigorously develop equity public funds, continue to increase the scale and proportion of equity funds, and strive to create long-term stable returns for investors. It urged differentiated policies to remove barriers to the entry of various medium and long-term funds into the market, and accelerate the improvement of the policy system for "long money, long-term investment." It called for greater efforts to promote the enhancement of the quality and investment value of listed companies, implement the newly released "six merger rules" effectively, introduce a batch of typical cases as soon as possible in promoting industrial integration, optimal resource allocation, and better service for the development of new productive forces, and promptly issue guidelines for market value management of listed companies to support listed companies in using policy tools effectively. It stressed the need to strengthen inter-ministerial coordination, actively cooperate to promote the landing of related monetary policy tools such as the exchange of securities, funds, and insurance companies, and special refinancing for stock repurchases and shareholdings. At the same time, it advocated for the completion of all tasks, and further planned and timely introduced more practical and effective policy measures in investment, asset management, protection of small and medium investors, etc., to enhance the intrinsic stability of the capital market and better support economic stability, market stability, and stability of expectations. The meeting also conducted research and deployment on effective risk prevention and ensuring safe operation. Members of the CSRC party committee, responsible comrades of the Discipline Inspection and Supervision Group stationed at the CSRC, and heads of various units within the system participated in the meeting on-site or via video. This article is selected from the official website of the CSRC, edited by GMTEight, and translated by Yao Xiaoqing.