CSRC Holds Regulatory Meeting, Vows Stronger Oversight And Further Opening

China's securities regulator held a meeting on Party building and regulatory work, saying it will support strong listed companies while curbing weaker ones. According to 36Kr, the China Securities Regulatory Commission also said it will strengthen its system to prevent and punish financial fraud, push listed companies to improve governance, keep merger-and-acquisition restructuring active, and roll out more model cases. It plans to promote high-quality development across market institutions by refining oversight of securities firms under the "1+N+X" framework, speeding up a package of measures for fund companies, issuing rules for futures firms as soon as possible, and promoting the healthy development of private funds. The regulator also said it will guard against risks in key areas, protect the safety and stability of capital market financial infrastructure, and prevent and resolve default risks tied to local government financing vehicles and real-estate-related bonds. It added that China will steadily deepen two-way opening of the capital market and strengthen cross-border regulatory cooperation.