China plans to strengthen capital market by 2030
At a press conference dedicated to the 15th Five-Year Plan, China presented measures to strengthen financial regulation, prevent risks, and promote high-quality development. This was reported by ECNS.
Financial risk control
Cong Lin, deputy head of the National Financial Regulatory Administration, said that the authorities will strengthen risk prevention and control in key areas. According to him, China will also work to resolve risks in small and medium-sized financial institutions and protect against systemic financial risks.
Supervision is planned to be strengthened in major sectors. Financial institutions will be directed toward more effective support for national strategies and weak links in the economy.
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Capital market reform
Li Chao, vice chairman of the China Securities Regulatory Commission, announced plans to accelerate a new stage of capital market reform and opening-up. According to him, by 2030, when China’s capital market marks the 40th anniversary of its establishment, the country plans to generally form a new model of its high-quality development and substantially improve its overall capacity and international competitiveness.
To implement the plan, the People’s Bank of China released its own reform and development program, as well as nine supporting action plans in related areas.
