Posted on 17 Mar 2022
The work meeting among the members of the Financial Stability and Development Committee of the State Council of China on March 16 emphasized the significance for the country to maintain a reasonable economic growth and stable capital market under the complex circumstances at present, according to a post by the Chinese government on its official website.
Members present at the meeting agreed that to develop the national economy while tackling the new wave of the COVID-19 outbreaks, Beijing needs to take measures to boost the national economy in the first quarter, the country's monetary policy should take the initiative to deal with related matters, and the newly-issued loans will need to keep an appropriate growth pace, according to the post on www.gov.cn.
Besides, Beijing will continue with its support for the Chinese companies from all scopes to list overseas, and China and the U.S., through communication, have made positive progress regarding the listing of Chinese stocks. At the same time, related regulatory bodies in both Hong Kong and the Chinese mainland will need to enhance communication and coordination in stabilizing the financial market in Hong Kong.
Members at the meeting also reminded China's related governing bodies to treat their responsibilities seriously, releasing the policies that will support the market instead of any that may dampen or contract the market, and any policies that may seriously impact the capital market should be communicated with financial regulatory bodies beforehand, so that all the related parties are aligned on their expectations and safeguarding the stability.
Moreover, all the financial institutions must think and act for the greater good and resolutely support the real economy, and those with long-term investments are welcome to increase their shareholding.
Source:Mysteel Global
