Wu Xiaoqiu: "The basic goal of the capital market reform during the 13th Five-Year Plan period is to ensure that there are no 'landmines' in the market."

Wu Xiaoqiu, a national-level professor, former vice president of Renmin University of China, and director of the National Institute of Financial Research, believes that during the "Eleventh Five-Year Plan" period, China's capital market reform should focus on institutional goals, development goals, and internationalization goals. The basic goal of institutional reform is to ensure that the market is "free of traps", which is the starting point for the market to move towards fairness. He stated that the most serious problem in the current market is the existence of various "traps", which make investors worry about being caught in a trap. In order to achieve the goal of "no traps", it is necessary to establish a matching severe penalty mechanism, amend laws, and impose heavy penalties on serious illegal activities such as fraudulent listing, false information disclosure, and insider trading.