On October 20th, the China Securities Regulatory Commission (CSRC) announced a special forum aimed at further deepening reforms in the capital market. This meeting was led by Wu Qing, the CSRC Party Secretary and Chairman, and took place in Beijing. It involved in-depth discussions with experts, scholars, and representatives from financial media outlets to gather their insights and recommendations.

During the discussions, participants unanimously acknowledged the positive momentum since the Politburo meeting on September 26, which introduced a series of targeted policies to bolster the economy. These measures have effectively boosted investor confidence and market activity, promoting a beneficial feedback loop between a vibrant financial sector and a growing economy. The group emphasized the importance of nurturing and protecting this positive trend by implementing comprehensive reforms to invigorate the market. They believe that concrete reform outcomes are essential for stabilizing expectations and strengthening confidence among investors.

Specific recommendations for the next steps in capital market reform were also proposed. Suggestions included enhancing the inclusivity, adaptability, and precision of market regulations, bridging the gap in policy execution, supporting the listing and restructuring of high-quality tech companies, and reforming both the financing and investment sectors to normalize IPOs. Furthermore, they suggested fostering patient capital and encouraging the inflow of long-term investments into the market.

Wu Qing highlighted the significant changes the world is currently experiencing and the key transitional stage China is in as it moves towards modernization. He expressed hopes that experts and financial media would actively uphold the principles of politics, people-centeredness, and professionalism. Their role in accurately communicating the spirit of the 20th National Congress, interpreting the outcomes of the Politburo meeting, and conveying the narrative of the Chinese economy and capital market is crucial for building confidence and positivity.

Wu welcomed timely feedback from experts and media representatives to the CSRC regarding market concerns, suggestions, and oversight, emphasizing a collaborative approach to advancing comprehensive reforms in the capital market and achieving high-quality development.