(Yicai Global) May 4 -- China should prioritize guarding against financial risk, locate key risk areas in capital markets, safeguard regulatory mechanisms and fully prevent systemic risk, the China Securities Regulatory Commission’s Party Committee said at a meeting this week.
Authorities should take into account actual situations on the capital market and accurately assess all potential risks, address them one-by-one and combine measures to protect against risk with those that promote the healthy development of the markets, the committee added.
The CSRC will aim to maintain capital market stability as part of its bid to ensure national financial and economic security, make steady progress, regulate strictly in line with the law, protect investors’ rights and interests and regulate more effectively, the commission said. It will also push reforms in capital markets toward marketization, legalization and globalization, and allow them to play a bigger role in serving the real economy.
The CSRC’s Party Committee is the regulator’s core leadership unit.