Source: People’s Republic of China in Russian –
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Beijing, June 7 /Xin Hua/ — China will continue to improve mechanisms for controlling and managing automated trading operations in the securities market, with the aim of accelerating steps toward the formation of first-class investment structures, said the chairman of the China Securities Regulatory Committee Wu Qin on Saturday.
At the next meeting of the China Asset Management Association, it was stated that increasing attention will be paid to issues of fairness and standardization, efforts will be made to effectively prevent abuse of technical advantages, as well as to decisively stop illegal activities such as market manipulation and disruption of market order.
To form first-class investment structures, Wu Qin emphasized the importance of giving priority attention to compliance with legislative requirements, investor interests, functional roles, and innovations.
He noted that the Chinese Securities Regulatory Committee is developing a three-year action plan for the implementation of corresponding guiding principles and is working on creating an institutional basis that ensures market access, constant supervision, risk reduction, and service development.
Emphasizing the importance of investors’ interests, Wu Qin called on both public and private funds to strictly observe their fiduciary duties and accelerate the shift from a scale-oriented approach to a quality-oriented approach.
Noting the role of direct investment funds and venture capital in the development of new quality productive forces, U. Tsyn called on these institutions to support long-term professionalism and strengthen their analytical capabilities in the field of investment.
He also called on industry institutions to constantly implement innovations in products, services, business models, and organizational structures in order to better meet market demand.
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