吴晓求称要对资本市场埋雷者重罚

Core Viewpoint - The article discusses the fundamental changes in China's capital market since September 24, 2024, emphasizing the recovery of market confidence and stability of expectations as key drivers for reform [3]. Group 1: Market Performance - At the beginning of 2026, the A-share market showed strong performance, with the Shanghai Composite Index surpassing 4100 points and total trading volume exceeding 30 trillion [3]. Group 2: Proposed Reforms - Wu Xiaoqiu suggests three areas of reform for the capital market: asset side, demand side, and institutional side [4]. - The asset side reform focuses on adjusting the structure of listed companies to prioritize high-tech and innovative enterprises, as their development is fundamental to the market's growth [4]. - The demand side reform aims to enhance the investment side, addressing issues that have previously restricted large funds from entering the market, such as regulatory constraints and risk perception [4][5]. - The institutional side reform is crucial for the effectiveness of the other two reforms, aiming to build market confidence, expectations, and a clear baseline [5]. Group 3: Transparency and Accountability - Wu emphasizes the need for increased market transparency, advocating for strict disclosure requirements to prevent companies from hiding risks [6]. - He proposes severe penalties for those who engage in fraudulent activities, including criminal and civil liabilities for financial fraud and insider trading, as well as equal penalties for intermediary institutions that assist in such activities [6].