Wu Qing: Further deepen research on long-term mechanisms for market stability

China News Service, Beijing, November 14. According to information provided by the China Securities Regulatory Commission, Wu Qing, chairman of the China Securities Regulatory Commission, said at the opening ceremony of the first China Capital Market Academic Annual Conference held in Shanghai on the 14th that the research on long-term mechanisms for market stability will be further deepened.

Wu Qing said that to promote the reform, development and stability of the capital market under the new situation, there are many major theoretical and practical issues that need to be studied in depth. These include: further deepening the research on the characteristics and laws of the development of China's capital market, further deepening the research on the long-term mechanism for market stability, further deepening the research on the inclusive adaptability of the system, further deepening the research on the two-way empowerment of artificial intelligence and capital markets, further deepening the research on the market microstructure, and further deepening the research on the participation of the capital market in global financial governance.

Regarding further deepening the research on long-term mechanisms for market stability, Wu Qing pointed out that China’s capital market has never been as highly interconnected and resonant with the global capital market as it is today. In the face of a highly uncertain external environment and imported risks, it is necessary to strengthen the understanding of regular changes in the global capital market, the evolution of asset pricing logic, and risk transmission linkages, further strengthen the research and response to cross-border, cross-market, and cross-industry risks, and systematically build a stable mechanism, stable power, and stable ecology to effectively prevent abnormal market fluctuations.

Regarding further deepening the research on the inclusive adaptability of the system, Wu Qing said that the capital market, as an important platform for market-oriented resource allocation, must further study and deepen the comprehensive reform of investment and financing, accelerate the construction of a direct financing system that adapts to the laws of innovation and industry, and coordinate the synergistic functions of the private market and the public market, the stock market and the bond market; in particular, while scientifically grasping the rhythm, it is necessary to strengthen research on the system adaptability and risk response mechanism for the issuance and listing of large and new technology companies. At the same time, it is necessary to comprehensively and accurately understand the scientific connotation of the development of new productive forces, conduct in-depth research to support the listing and development of high-quality enterprises in different fields such as new consumption and traditional industry upgrading, continuously improve and optimize the structure of listed companies, and promote balanced and coordinated development of the market.