129773438609843750_154Speed up the establishment of a unified regulation of OTC counter market; promote the perfection of listed company investor return mechanism; promoting credit bond markets development; gradually fall market and a wide range of standard system in, and actively and steadily promoting the construction of crude oil futures market; Vice Chairman of the China Securities Regulatory Commission, the threshold is working on reducing the h-share listing to Mr Yao 25th at "Lingnan Forum ", on the over-the-counter market, bond market development dividends of listed companies, new share distribution system reform, institutional reform, and development of futures markets, training, and development in institutional investor, investor protection and promote capital markets opening up to nine issues were elaborated. For OTC counter trade market construction, Mr Yao said in the current capital market boxUnder the frame
diablo 3 gold, and direct financing needs of most enterprises still cannot be effectively met. Summarize the operation of security agents to share transfer system, speed up the establishment of a unified under supervision, to counter transactions, national SME development on the basis of OTC markets. This is also in line with the current stage of China's economic development needs. Establish the OTC market is a complex system, involvingSurface. Demonstration of China Securities Regulatory Commission is building on market-related issues, and improvement of relevant programmes
diablo 3 gold, after you perform the relevant approval procedures, seeking out as soon as possible. Construction of the bond market, said Mr Yao, we should vigorously promote the development of credit bond markets, increase the proportion of direct financing. The State Council has already agreed that the people's Bank, national development and Reform Commission and the Securities and Futures Commission established company credit debt classCoupon inter-ministerial coordination mechanisms, collaboration to promote the bond market infrastructure. Currently focus on promoting market access conditions, standards of information disclosure, investor, credit rating requirements of appropriate institutional and investor protection, unification of the basic system, promoting the Exchange bond market and interconnection of the interbank bond market, actually make it enterprise can choose to issue bonds to the market, investors canFree choice of investment products. At the same time, to the weakening of administrative examination and approval, foster business credit, corporate bonds, establishment of investor protection mechanisms. At present, the Securities and Futures Commission is to issue bonds subject to demand investigation, investors, intermediaries, private bond issue of SMEs in research programmes, some do want to solve the financing difficulty trying to. For system reform of new shares issued,Mr Yao pointed out that the central task of reform is to make the new share prices reflect company values, for one or two level, healthy development of the market. To do so, reasonable definition between regulators and other intermediaries and exchanges Division of duties and responsibilities, to the full, complete, and accurate information disclosure as the Central reform issue audit system, gradually from the profit of listed company review focused on theTransferred to the equal protection of the legitimate rights and interests of investors. Unnecessary administrative intervention continued to weaken, strengthen the capital constraint mechanism of new share price, market discipline and integrity constraints, for issuers, intermediaries and investors return to do his duty, the IPO pricing fundamentals and the issuer is closely associated and will continue to enhance investor education and risk revealing, repeatedly reminded to voteFunding is not to "fried new" up from investors of appropriate systems to guide rational market new stock investment value; will spur more institutional investors into the IPO market and guide in balancing the risks and benefits of long-term funds on the basis of participation in the IPO pricing and subscription. On promoting the reform of listed company's dividend system, said Mr Yao, next, regulators in full respectUnder the premise of listed company's independent business decision, continue to encourage and guide sustained by listed companies, cash dividend policy and decision-making mechanisms of clarity, transparency, intensify the commitment to not share dividends and long term does not comply with dividend obligations, regulatory constraints, help enterprises to establish the concept of reporting shareholder, continued to promote the perfection of listed company investor return mechanism. Withdrawal system, Mr Yao tableAs shown, it is the capital of "purification", strict implementation of the withdrawal system, helps to enhance awareness, improve enterprise management, to help guide investors rational investment, value investing, a healthy investment culture and atmosphere, protecting the interests of investors from the source. He revealed that, in promoting the gem exit system on a pilot basis, the SFC will study on modifiedAnd perfection of delisting the motherboard system, and gradually form a market and a wide range of standard system for delisting, and to take measures for the trigger condition of delisting companies actually delisting, play to market inferior function. In the development of the futures market, said Mr Yao, the SFC is step up the construction of crude oil futures market research plan, strengthen communication and coordination with the ministries concerned, should actively promoteConstruction of the oil futures market. In addition, in line with the bond market development strategy, government bond futures contract rules of design, development, technical system of preparation work has been basically completed, when circumstances permit the safe promoting Treasury bond futures trading. In addition, it will also further promote the silver, coking coal, rapeseed futures listed on the work of the new products, and increase the research and development of new trading instruments such as options。 In terms of culture development of institutional investors, says Mr Yao, the cultivation and development of institutional investors, fostering a wide range of investors group, is a very pressing task, and conducive to the sustainable and healthy development of the capital market. SFC in strengthening our service of medium and small investors at the same time, measures to encourage and guide the securities investment funds, pension funds, pension funds,Institutions such as enterprise annuities, insurance funds, QFII investors to play a greater role in the capital markets. In terms of investor protection, Mr Yao said, the SFC will keep the pressure on the one hand, and works closely with other law enforcement departments, and resolutely crack down on market manipulation, insider trading and false disclosure, transporting
swtor credits, illegal consultation of interest and violations of illegal trading against investors ' interests,Maintaining the normal market order and "the three principles". On the other will gradually establish a suitable State of China's capital market investors of appropriate systems, set up different access to different products and different market standards, strengthening risk revealing to various types of investment products to guide investors carefully matched with their own products, promoting rational investment ideas. In promoting the capital marketsOpening up, China Securities Regulatory Commission, insisted on "bringing in" and "going out" combining, continue to deepen and expand the opening up of capital markets. He said, at present, is studying the lower threshold of the h-share listing, direct financing to create conditions for small and medium enterprises to foreign capital markets. He also said, the Commission continues to encourage domestic securities companies, fund management companies and futures companies abroadEstablishment of branch offices, overseas business. At the same time, in conjunction with the relevant departments to promote further increase of QFII and RQFII lines, attracts more long-term foreign investment in capital markets in China. In addition to expanding the scale of pilot RQFII, investment institutions, investment range, with the in the breakthrough. He said, the SFC is accumulatedPreparing to launch Hong Kong Index ETF products in the Mainland and the Hong Kong Securities and Futures Commission in Hong Kong Yuan-denominated a-shares Index ETF products. (Editors: Zhang Lei)
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