The move was part of the push by the securities regulator to drive tech innovation, boost the quality of listed companies and follow through with President Xi Jinping’s initiative of “new productive force”, said Wu Qing, chairman of the CSRC in a keynote speech delivered at the annual Lujiazui forum.
His comments were in line with the steps taken by the CSRC to restore investor confidence by encouraging listed companies to increase shareholder returns and pledging to clamp down on fraudulent listings and accounting falsification.
“We’ll create favourable conditions with related departments to attract more medium and long-term capital into the capital market,” Wu said. “We’ll focus on policy support for investment and withdrawals by venture capitals and private equity funds to guide earlier and better investment in core technologies to promote the virtuous financial cycle of the tech industry.”
It was Wu’s first…
