Financial Regulation, Weekly Report
This week's documents: 1. The People's Bank of China and other three departments issued the "Notice on Further Optimizing Payment Services in the Commercial Sector and Improving the Convenience of Payment"; 2. The State Administration of Financial Supervision and Other Three Departments issued the "Notice on Deepening Financial Services in the Manufacturing Industry and Helping to Promote New Industrialization"; 3. The China Securities Regulatory Commission issued the "Sixteen Measures for the High-level Development of Capital Market Services for Science and Technology Enterprises"; 4. The China Securities Regulatory Commission formulated and issued the "Regulations on the Management of Securities Transaction Costs of Publicly Offered Securities Investment Funds"; 5. The Shanghai-Shenzhen-Hong Kong Stock Exchange reached a consensus on expanding the scope of Stock Connect ETFs, and 10 departments, including the Ministry of Commerce, jointly issued the "Several Policies and Measures on Further Supporting Foreign Institutions to Invest in Domestic Technology-based Enterprises".
Regulatory developments: 1. The People's Bank of China held the 2024 Financial Stability Work Conference, 2. The China-US Financial Working Group held its fourth meeting, 3. The People's Bank of China held the 2024 Treasury Work Conference, 4. Pan Gongsheng attended the G20 Finance Ministers and Central Bank Governors Meeting, 5. Pan Gongsheng attended the 49th International Monetary and Financial Committee Meeting, 6. The regulators responded to hot issues such as controlling the idling of funds, maintaining the stability of the RMB exchange rate, and how to do a good job in the "five major articles"; 7. The People's Bank of China: Adhere to the service of the real economy as the fundamental purpose - study the "Excerpts of Xi Jinping's Discourses on Financial Work"; 8. The State Administration of Financial Supervision: Adhere to the prevention and control of risks as the eternal theme of financial work - study the "Excerpts of Xi Jinping's Expositions on Financial Work"; 9. The National Mobilization and Deployment Meeting for the Special Action to Combat Illegal Fundraising and the 2024 Inter-Ministerial Joint Conference on the Disposal of Illegal Fundraising were held; 10. Guo Ruiming, Director of the Department of Supervision of Listed Companies of the China Securities Regulatory Commission, answered reporters' questions on issues related to dividends and delisting; 11. The China Securities Regulatory Commission (CSRC) approved the official launch of the "Fund E Account" APP; 12. The China Securities Regulatory Commission (CSRC) issued five measures for capital market cooperation with Hong Kong; 13. The National Association of Institutional Investors held the 2024 Annual Work Conference of Lead Underwriters; 14. The securities regulatory bureaus in many places require IPO counseling enterprises to sign a letter of commitment.
Regulatory penalties: 1. Local financial regulatory bureaus and financial regulatory sub-bureaus announced 145 administrative penalty cases; 2. The Shanghai Stock Exchange has taken regulatory actions against a number of listed companies for illegal and abnormal transactions; 3. The Shenzhen Stock Exchange has taken regulatory actions against a number of listed companies for illegal and abnormal transactions.
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