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China’s Liu Urges More Solid Capital Market Reform

China’s Liu Urges More Solid Capital Market Reform

China urged more solid steps in the reform and opening up of financial systems, heralding the development of the state’s 14th five-year plan, according to a special meeting of the Financial Stability and Development Committee of the State Council.

The meeting, presided over by Vice Premier Liu He on Saturday, stressed the need to enhance the hub function of the capital market; fully implement a stock issuance registration system; establish a normalized de-listing mechanism; and increase the proportion of direct financing, according to a statement on the Chinese government website.

The meeting re-emphasized “zero tolerance” for crimes in the capital market, and stressed the importance of balancing financial development, stability and safety.

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With assistance from Bloomberg