The Chairman and Party Secretary of the China Securities Regulatory Commission, Wu Qing, said at a symposium with publicly listed companies on the “15th Five-Year Plan (2026-2030)” for the capital market planning that the CSRC will compile and implement the capital market “15th Five-Year Plan” with high quality, make every effort to consolidate the momentum of the capital market maintaining steady improvement, and move quickly to roll out the deepening of reforms to the ChiNext board.
Wu Qing said that the CSRC will fully, profoundly, and accurately understand and grasp the important arrangements of the Party’s 4th Plenary Session of the 20th Central Committee, strengthen research into major issues concerning reform, development, and stability of the capital market during the “15th Five-Year Plan” period, unify strategic needs with what is feasible in practice, and unify what the market needs with what regulators intend, so as to compile and implement the capital market “15th Five-Year Plan” with high quality.
He emphasized that, closely following the main line of work of preventing risks, strengthening regulation, and promoting high-quality development, the CSRC will make every effort to consolidate the momentum of the capital market maintaining steady improvement. Focusing on continuously deepening comprehensive reform of investment and financing in the capital market, improving the institutional inclusiveness and adaptability, it will move quickly to roll out the deepening of ChiNext board reforms, continuously promote the implementation and rollout of the Sci-Tech Innovation Board reforms, and enhance the convenience, flexibility, and attractiveness of the refinancing system, thereby promoting high-quality integrated development of the Beijing Stock Exchange and the National Equities Exchange and Quotations. It will expand the coverage and radiation strength of a multi-level market, more powerfully and effectively support the construction of a modern industrial system and the development of new quality productive forces, and actively serve the “15th Five-Year Plan” development goals and the construction of a strong financial country. Wu Qing also said that listed companies are the foundation of the capital market; they should focus on their core businesses, improve governance, work to raise development quality, enhance the ability to return value to investors, and provide solid support for high-quality development of the capital market.
At the symposium, participants put forward specific suggestions and recommendations on how to do well the capital market “15th Five-Year Plan” planning, improve institutional inclusiveness and adaptability, and improve the quality and investment value of listed companies. The main includes: continuing to optimize the rules for issuing and listing, to better adapt to the development needs of emerging industries, future industries, and the transformation and upgrading of traditional industries; improving the efficiency of refinancing by listed companies to better activate the vitality of the mergers and acquisitions restructuring market; fostering patient capital with greater efforts and promoting medium- and long-term funds to enter the market, so as to better match the long-cycle demand of industrial development; improving dividend distribution, share buybacks, and incentive-constraint mechanisms for listed companies, urging them to further enhance standardized operations and the level of information disclosure; increasing policy support for the global development of listed companies, helping to cultivate world-class enterprises, etc.
The “Recommendations of the CPC Central Committee on Formulating the 15th Five-Year Plan for National Economic and Social Development” proposes to improve the inclusiveness and adaptability of the capital market system, and to strengthen the capital market functions in which investment and financing are coordinated. It is proposed to actively develop direct financing such as equity and bonds, and to steadily develop futures, derivatives, and asset securitization. In the recent period, the CSRC has conducted extensive research on the capital market “15th Five-Year Plan,” and has successively held symposia with listed companies and industry institutions for the “15th Five-Year Plan” of the capital market, as well as expert symposia for the “15th Five-Year Plan” of the capital market, among others. The CSRC said it will continue to deepen the comprehensive reform of investment and financing in the capital market, improve institutional inclusiveness and adaptability as well as competitiveness, attractiveness, and strive to achieve a qualitative effective improvement and a rational increase in volume, and effectively enhance the inherent stability of the market. (Reporter: Wu Lihua)
証券監督管理委員会：資本市場の安定した好調の勢いを全力で強化
The Chairman and Party Secretary of the China Securities Regulatory Commission, Wu Qing, said at a symposium with publicly listed companies on the “15th Five-Year Plan (2026-2030)” for the capital market planning that the CSRC will compile and implement the capital market “15th Five-Year Plan” with high quality, make every effort to consolidate the momentum of the capital market maintaining steady improvement, and move quickly to roll out the deepening of reforms to the ChiNext board.
Wu Qing said that the CSRC will fully, profoundly, and accurately understand and grasp the important arrangements of the Party’s 4th Plenary Session of the 20th Central Committee, strengthen research into major issues concerning reform, development, and stability of the capital market during the “15th Five-Year Plan” period, unify strategic needs with what is feasible in practice, and unify what the market needs with what regulators intend, so as to compile and implement the capital market “15th Five-Year Plan” with high quality.
He emphasized that, closely following the main line of work of preventing risks, strengthening regulation, and promoting high-quality development, the CSRC will make every effort to consolidate the momentum of the capital market maintaining steady improvement. Focusing on continuously deepening comprehensive reform of investment and financing in the capital market, improving the institutional inclusiveness and adaptability, it will move quickly to roll out the deepening of ChiNext board reforms, continuously promote the implementation and rollout of the Sci-Tech Innovation Board reforms, and enhance the convenience, flexibility, and attractiveness of the refinancing system, thereby promoting high-quality integrated development of the Beijing Stock Exchange and the National Equities Exchange and Quotations. It will expand the coverage and radiation strength of a multi-level market, more powerfully and effectively support the construction of a modern industrial system and the development of new quality productive forces, and actively serve the “15th Five-Year Plan” development goals and the construction of a strong financial country. Wu Qing also said that listed companies are the foundation of the capital market; they should focus on their core businesses, improve governance, work to raise development quality, enhance the ability to return value to investors, and provide solid support for high-quality development of the capital market.
At the symposium, participants put forward specific suggestions and recommendations on how to do well the capital market “15th Five-Year Plan” planning, improve institutional inclusiveness and adaptability, and improve the quality and investment value of listed companies. The main includes: continuing to optimize the rules for issuing and listing, to better adapt to the development needs of emerging industries, future industries, and the transformation and upgrading of traditional industries; improving the efficiency of refinancing by listed companies to better activate the vitality of the mergers and acquisitions restructuring market; fostering patient capital with greater efforts and promoting medium- and long-term funds to enter the market, so as to better match the long-cycle demand of industrial development; improving dividend distribution, share buybacks, and incentive-constraint mechanisms for listed companies, urging them to further enhance standardized operations and the level of information disclosure; increasing policy support for the global development of listed companies, helping to cultivate world-class enterprises, etc.
The “Recommendations of the CPC Central Committee on Formulating the 15th Five-Year Plan for National Economic and Social Development” proposes to improve the inclusiveness and adaptability of the capital market system, and to strengthen the capital market functions in which investment and financing are coordinated. It is proposed to actively develop direct financing such as equity and bonds, and to steadily develop futures, derivatives, and asset securitization. In the recent period, the CSRC has conducted extensive research on the capital market “15th Five-Year Plan,” and has successively held symposia with listed companies and industry institutions for the “15th Five-Year Plan” of the capital market, as well as expert symposia for the “15th Five-Year Plan” of the capital market, among others. The CSRC said it will continue to deepen the comprehensive reform of investment and financing in the capital market, improve institutional inclusiveness and adaptability as well as competitiveness, attractiveness, and strive to achieve a qualitative effective improvement and a rational increase in volume, and effectively enhance the inherent stability of the market. (Reporter: Wu Lihua)
(Editor: Wen Jing)
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