Liu Xinhua, assistant chairman of China Securities Regulatory Commission, said at the 9th China Financial Development Forum held in Beijing yesterday that the development of capital market must be understood from the overall situation of national economy and social development when the impact of international financial market turmoil on China's capital market is gradually increasing.

Liu Xinhua said that strengthening the basic system construction is the basic prerequisite for promoting the stable and healthy development of China's capital market. Deepening the construction of basic system is a long-term behavior of capital market development.

Liu Xinhua said that at present, the internal and external environment that affects the development of the capital market is becoming increasingly complex, and the market operation mechanism is undergoing profound changes under the full circulation environment. The impact of international financial market turmoil on China's capital market is gradually increasing. We must understand the long-term, important and arduous development of China's capital market from the perspective of the overall development of the national economy and society. Always adhere to the guidance of Scientific Outlook on Development, based on China's national conditions, continue to solidly promote the institutional construction of China's capital market, and constantly consolidate the market foundation. Support market-oriented mergers and acquisitions of listed companies, further improve the quality of listed companies as a whole, and strengthen the supervision of securities and futures companies.

The main work of the CSRC in the future includes four points:

First, gradually optimize the business structure, enrich capital and expand financing channels, and enhance the overall competitiveness of the securities and futures industries.

second, constantly improve the capital market structure, actively and steadily promote the construction of multi-level capital markets, improve the structure of listed companies, optimize the increment, adjust the stock, further enhance the ability of listed companies to repay investors, improve the investor structure, continue to develop and expand the diversified investor team, actively promote all kinds of funds to enter the market, promote the coordinated development of all kinds of investors, give priority to the development of fixed-income products such as corporate bonds, meet the diversified financing needs of the market, promote the stable operation of the futures market, and further develop futures.

Third, make every effort to promote the legal construction of the capital market, strictly enforce administrative law, constantly improve the legal system of the capital market in view of the new pattern of the full circulation market, further promote the construction of administrative license, focus on improving the ability of administration according to law, adhere to strict law enforcement, continue to improve the working mechanism of unified command, scientific division of labor, close coordination, trinity and rapid response, concentrate on increasing illegal activities such as false information disclosure, market manipulation, insider trading and interest transfer.

fourth, strengthen the construction of credit system and investor education, establish and improve the credit system of securities and futures markets, establish a credit culture and self-restraint mechanism, establish a credit mechanism of securities and futures markets, and continue to carry out various forms of investor education activities. Promote the formation of a culture of integrity that is compatible with the development of the capital market.