Li Chao： GEM reform will focus on the main work related to the registration system is being promoted

Li Chao: GEM reform will focus on the main work related to the registration system is being promoted
On March 22, the State Council Office of Antiques responded to the impact of the international epidemic and maintained the stability of the financial market.Li Chao, deputy chairman of the China Securities Regulatory Commission, said that we have done a certain stage of serious research and demonstration on the reform of the GEM, including soliciting opinions within a certain range.The GEM reform will focus on the main line of the registration system, and at the same time, it will make reform arrangements in certain other aspects, including issuance, listing, information disclosure, trading, and delisting.At present, related work is being carried out in an orderly manner.The following is Li Chao’s alternative to answering reporters’ questions.In summary, the reform and opening up of the capital market will not be affected by the epidemic.In fact, the establishment of China’s capital market is the result of reform and opening up, and today has a 30-year history of development.From the 30-year course, we can see that at a stage when reform and opening-up work is more intensive and performance is more obvious, our capital market is generally more stable and functions better.However, in the case of insufficient reform and opening up, some problems will appear in the capital market.Therefore, the reform and opening up of the capital market has its inherent reasons and motivation.We want to make better use of the function of the capital market, but there are indeed some flaws and weak connections, which is why we continue to expand our reform and opening up efforts.For the reform of the Growth Enterprise Market that you care about, we have done a careful study and demonstration at a certain stage, including soliciting opinions within a certain range.The GEM reform will focus on the main line of the registration system, and at the same time, it will make reform arrangements in certain other aspects, including issuance, listing, information disclosure, trading, and delisting.At present, related work is being carried out in an orderly manner.At the same time, we will follow the 12 key tasks of the capital market reform that have been announced, including advancing the reform of the registration system, improving the quality of listed companies, improving and strengthening the quality of intermediary services, protecting the rights and interests of investors, and creating better funds for the medium and long-term marketEnvironment, etc., continue to increase efforts to create a standardized, transparent, open, dynamic and profitable capital market.In terms of opening up, there are two key points: one is market opening, and the other is access.In terms of market opening, we are advancing the corresponding system rules, and will continue to expand the scope and variety of investments steadily.In terms of access, in 2019, we have approved several foreign-controlled securities companies.At the same time, we have announced a few days ago that starting from April 1 this year, we can apply for foreign investment audits by securities companies and fund companies.In general, the direction of opening up is also the same.Editor Yue Caizhou