Posted 4/12/2024, 9:31:11 AM
China Sets Vision for Stock Market Reforms, Transparency by 2035 to Achieve Financial Superpower Status
- Beijing issues policy guidelines calling for more transparency, security, risk management, and vibrancy in China's $9 trillion stock market
- Aims to develop a reasonable market structure and high-quality listed companies by 2035 as China seeks financial superpower status
- New rules to crack down on accounting fraud, poor controls, high frequency trading; stricter disclosure and governance rules
- Guidelines complement recent moves to restrict speculative trading and stabilize stock market
- Comes after similar guideline sets in 2004 and 2014 preceded strong multi-year bull runs in Chinese stocks