China Securities Regulatory Commission (CSRC) : comprehensively deepen the reform of bond issuance registration system and expand opening-up

2022-04-30 0 By

On February 18, the China Securities Regulatory Commission (CSRC) held a meeting on bond supervision in 2022.The meeting thoroughly implemented the spirit of the Central Economic Work Conference, implemented the arrangement of the work meeting of the CSRC system in 2022, summarized the bond supervision work in 2021, analyzed the current situation, and studied and deployed the key work of bond supervision in 2022.CSRC Party committee member, vice – chairman Li Chao attended the meeting and made a speech.Responsible persons from the discipline inspection Group of CSRC, relevant departments of CSRC, securities regulatory bureaus, exchanges, associations and other system related units will attend the meeting on-site or via video.The meeting pointed out that in the face of century-old changes and the epidemic situation in the century, the BOND line of the CSRC in 2021 will earnestly implement the decisions and deployment of the CPC Central Committee and The State Council, adhere to the general tone of seeking progress while maintaining stability, deeply implement the new development concept, adhere to the market-oriented and law-based direction,Solid progress was made in building the basic system of the bond market, preventing and resolving risks, piloting REITs for public offering, and unified law enforcement in the bond market. The overall exchange bond market maintained stable and sound development.The meeting held that the current internal and external environment is becoming more complex and grim, but the trend of Steady and long-term growth of China’s economy has not changed, and there is a good foundation for the steady and sound development of the market.We should not only strengthen our awareness of potential dangers and bottom-line thinking, but also maintain our strategic focus, have the courage to shoulder our responsibilities and firmly promote the high-quality development of the exchange bond market.Following the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the meeting stressed the importance of ensuring stability and making progress while maintaining stability, building institutions, non-interference, and zero tolerance, and upholding the principle of “four respects and one synergy”. It stressed the need to focus on bottom-line thinking and take targeted measures to prevent and defuse bond default risks.We will do more to ensure stability and improve quality, and better serve the development of the real economy and the implementation of the national strategy.We will give greater prominence to openness and transparency, comprehensively deepen the reform of the registration system for bond issuance and open wider to the outside world.More emphasis on strict supervision, zero tolerance, accelerate regulatory transformation, further improve the bond market in line with the law and characteristics of the development of the regulatory system and mechanism;We will give greater emphasis to systematic thinking, strengthen market development, basic system development, rule of law supply, and scientific and technological support, actively create a sound market development ecosystem, help stabilize the broader macroeconomic market, and welcome the opening of the 20th CPC National Congress with outstanding achievements.Review of coordinating editor: an-qi liu | : li zhen | director: jun-wei wan (source: the SFC website)