Group 1 - The core viewpoint is that the China Securities Regulatory Commission (CSRC) emphasizes the overall stability and positive trend of the Chinese capital market, aiming to deepen comprehensive reforms in investment and financing by 2026 to enhance institutional inclusiveness, adaptability, competitiveness, and attractiveness [1] - The CSRC plans to maintain a steady approach, consolidating the positive momentum of the market, and will implement counter-cyclical adjustments while strictly addressing excessive speculation and market manipulation to prevent significant market fluctuations [1][5] - There will be a continued focus on reforming public funds and expanding channels for medium- and long-term capital sources to foster a market ecosystem conducive to long-term investments [1] Group 2 - The CSRC aims to enhance the inclusiveness and adaptability of the multi-tiered equity market, initiating reforms for the Growth Enterprise Market (GEM) and promoting the implementation of reforms for the Sci-Tech Innovation Board [3] - Efforts will be made to improve the convenience and flexibility of refinancing, as well as to promote the high-quality development of the Beijing Stock Exchange and the New Third Board [3] - The CSRC will also focus on the smooth implementation of Real Estate Investment Trusts (REITs) pilot projects in the commercial real estate sector [3] Group 3 - There will be a strong crackdown on financial fraud, price manipulation, and insider trading, with an emphasis on enhancing regulatory capabilities through technology [5] - The CSRC aims to improve the discovery of leads and the penetrative power of regulation [5] Group 4 - The capital market will be pushed towards deeper and higher levels of openness, with efforts to expedite the implementation of optimized schemes for qualified foreign institutional investors [7] - The scope of specific futures products will be expanded, enhancing the convenience of cross-border investment and financing [7] Group 5 - The CSRC will continue to enhance the standardized operation of listed companies, strengthening constraints on controlling shareholders and actual controllers [8] - Improvements will be made to systems regarding dividends, share buybacks, equity incentives, and employee stock ownership [8] - The aim is to stimulate the vitality of the mergers and acquisitions market and to enhance the regulatory framework for the entire restructuring process, promoting high-quality development of listed companies [8]
2026年坚持“稳”字当头巩固资本市场稳中向好势头 坚决防止大起大落
Yang Shi Wang·2026-01-17 02:13