Yesterday, the China Securities Regulatory Commission held a launching ceremony for the “5·15 National Investor Protection Publicity Day” in Beijing. The theme was “Heart investors are working together”. The chairman of the China Securities Regulatory Commission, Yi Huiman, jointly launched the publicity day with the Supreme People's Court, market operators, media and investor representatives. Qi Qingmin, vice chairman of the China Securities Regulatory Commission, attended and spoke. Li Chao, vice chairman of the China Securities Regulatory Commission, announced the decision to set up a publicity day.
The CSRC has set up the “5·15 National Investor Protection Publicity Day”, aiming to focus on the nationwide activities through a fixed date every year, further promoting a rational investment culture, merging the consensus of all parties in the market, forming a concern for everyone, caring, and focusing on small and medium-sized The good atmosphere of the legitimate rights and interests of investors has made the concept of investor protection deeply rooted in the hearts of the people and has become the conscious action of everyone.
Yan Qingmin pointed out that investors have an irreplaceable role in the capital market. He summarized the progress made in the insurance work and pointed out the challenges. Zhao Qingmin emphasized that all parties need to gather together to effectively implement the concept of "big insurance" and build a new pattern of insurance.
Yan Qingmin said that as a provider of market liquidity, a market expectant, a risk bearer, and a corporate governance participant, investors' behavior directly affects the functions of capital market resource allocation, asset pricing and mitigation risk. It is the cornerstone for maintaining the ecological operation of the capital market and has an irreplaceable status and role. China has the largest and most actively traded investor group in the world, with an investor team of 150 million people, of which more than 95% are small and medium investors. This is the basic feature of China's capital market at this stage. How investor protection is done is directly related to the vital interests of hundreds of millions of people. Respecting investors, fearing investors and protecting investors is the unshirkable responsibility of all kinds of market players.
Qi Qingmin summarized the positive progress made by the CSRC in the aspects of investor protection concept cultivation, system construction, mechanism optimization and platform construction in recent years. It mainly includes the concept of investor protection in the context of market-oriented rule of law, and the protection of investors runs through the whole process of supervision and listing, such as issuance and listing, market transactions, institutional supervision, and inspection and enforcement; initially, an effective investor protection organization system is formed; In line with the actual market protection mechanism of investor protection in China. Established a three-dimensional protection mechanism covering appropriate management, shareholding, dispute resolution, advance payment, support litigation and demonstration judgments, helping investors to obtain about 2.5 billion yuan in compensation; high standards to create an investor service platform Wait.
Yan Qingmin pointed out the challenges and problems facing the current insurance work. First, the rapid development of the market puts forward higher requirements for investor protection. For example, in the context of the full opening of the securities and futures market, the structure and behavior of investors have undergone great changes, and cross-border regulatory enforcement and investor protection are facing new challenges;
After the introduction of the new regulations on capital management, the funds, investment consultants and other industries have undergone profound changes and transformations, bringing new issues to investor protection and supervision. Second, some market entities have failed to implement investor protection responsibilities. Some large shareholders and actual controllers of listed companies lack respect for investors, and some even disregard the legitimate rights and interests of investors. Third, the awareness of self-protection of small and medium-sized investors is not strong, and the investment culture has not yet formed. In addition, the capital market investor compensation and relief mechanism needs to be further explored and improved.
Yan Qingmin emphasized that strengthening investor protection is a fundamental work related to the healthy development of the capital market. It requires the participation and support of all parties. It must be constantly grasped and gathered together to effectively implement the concept of “big insurance” and practice it in practice. Investor protection work has been sounded and effective. First, we must make every effort to improve the quality of listed companies. This is the best protection for investors and the key to investors' investment value and sharing of economic growth dividends. Second, to strengthen the responsibilities of exchanges and intermediaries, the exchange should further optimize the trading system, further improve the abnormal trading monitoring standards, strengthen the supervision of the whole process of transactions, and allow investors to have clear expectations of fair trade. Third, it is necessary to effectively combat violations of the capital market and continue to purify the market ecology. Fourth, we must make great efforts to build a large pattern of investor protection. Through the joint participation and support of relevant ministries, local governments, market institutions, news media and other relevant parties, a large pattern of investor protection “legal protection, regulatory protection, self-discipline protection, market protection and self-protection” has been formed. This includes promoting the establishment of a class action system in line with the actual situation in the Chinese market, improving the civil liability litigation system for securities infringement, and researching and establishing investor special compensation funds. Fifth, we must deepen the reform of the basic system of the capital market, further improve the multi-level capital market system, and increase the reform of the system of issuance, trading, delisting, and information disclosure to provide investors with more products and better services. Effectively crack down on illegal securities futures activities and keep investors away from market chaos.
Yan Qingmin pointed out that the key to protecting the legitimate rights and interests of investors lies in the investors themselves. The majority of investors should consciously strengthen risk awareness and rational thinking, strengthen the study of relevant knowledge of the capital market, choose products that suit their own, and do not blindly follow the trend. It is necessary to learn the law, know the law, understand the law, abide by the law, and consciously stay away from illegal financial activities, exercise powers in accordance with the law, and enhance self-protection.
(Article source: Securities Times)