Capital Market
China has sent a clear signal that it will make more efforts to stabilize the capital market and improve investor confidence.
Policymakers were briefed on the operation of the capital market and considerations for related work at a State Council (China’s highest state administrative organ) executive meeting on January 22.
The country will further improve the capital market’s fundamental system, pay more attention to maintaining a dynamic balance between investment and financing, enhance the quality and investment value of listed companies, increase flows of medium- and long-term funds into the market, and strengthen the market’s inherent stability, according to the meeting.
Zhang Wangjun, an official with the China Securities Regulatory Commission, said more will be done to reform the investment side of the capital market, promote counter-cyclical investment by institutions, and improve the investment channels of social security, insurance and annuity funds in a bid to foster long-term stable investment forces.
The meeting pledged to take stronger, more effective measures to stabilize the market and improve confidence.
The government policies related to the capital market will be more coordinated, continuous and stable, Zhang said, adding that efforts will be made to prevent the rollout of policies unfavorable to improving market expectations, while work will also be done to defuse risks in the property sector and those associated with local government debts.
To create a transparent environment, it is necessary to strengthen market supervision with zero tolerance for illegal activities, according to the meeting.
Expanded Imports
The country provided increased market access for imports of agricultural and food products from over 51 countries and regions in 2023, the General Administration of Customs of China (GACC) said on January 23.
In its statement, the administration said the approval of 146 shipments of various types of imported agricultural and food products helped meet the diversified needs of Chinese consumers.
The GACC continued to deepen its global partnerships in 2023. It signed 156 cooperation documents with foreign partners last year, including 84 documents on market access for agricultural and food products with its Belt and Road cooperation partners, according to the statement. The Belt and Road Initiative, proposed by China in 2013, aims to boost connectivity along and beyond the ancient Silk Road routes.
In 2024, customs authorities will deepen international cooperation on inspection and quarantine measures, optimize and improve quarantine and access procedures for agricultural and food products, and continue to create new growth points for the trade of such products, the statement read.