CSRC will Release 8 Measures to Deepen Reform of STAR Market
China is set to introduce new measures aimed at deepening the reform of the Science and Technology Innovation Board (STAR) market, according to China Securities Regulatory Commission (CSRC) Chairman Wu Qing. Speaking at the Lujiazui Forum in Shanghai on Wednesday, Wu emphasized the country's commitment to bolstering scientific and technological innovation through these reforms.
Wu Qing highlighted that these measures are designed to better support the nation's scientific and technological advancements and promote the growth of new quality productive forces. This initiative aligns with China's broader economic strategy as outlined in recent policy documents, including the New Nine Guidelines and a series of policy frameworks targeting the capital markets. These documents underscore the central themes of stringent regulation, risk prevention, and the pursuit of high-quality development in the capital markets.
In his address, Wu Qing emphasized the importance of proactively embracing the development of new quality productive forces. Wu noted that it is the capital market's inherent responsibility and a rare opportunity to support this development. Quality enterprises that represent the data-driven market trends can bring fresh vitality to the capital market, enabling investors to share in the benefits of the economy's high-quality growth.
To achieve these objectives, Wu Qing announced that the CSRC would implement eight specific measures to deepen the reform of the STAR market. These measures include improving the systems and mechanisms related to issuance and underwriting, mergers and acquisitions, and equity incentives. By enhancing these frameworks, the STAR market aims to better serve technological innovation and the development of new productive forces.
These reforms are expected to create a more robust and dynamic environment for technological enterprises, fostering innovation and contributing to sustainable economic growth. The forthcoming measures will solidify the STAR market's role as a pivotal platform for technological and scientific enterprises, reinforcing China's position as a global leader in innovation while ensuring strong regulation and risk prevention.
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