Wu Qing: Steadily expand institutional high-level opening-up to the outside world and continue to enhance the inclusiveness and appeal of the capital market system

The Zhitong Finance App learned that on December 18, 2025, Wu Qing, chairman of the China Securities Regulatory Commission and president of the China Capital Market Association, attended the inaugural meeting of the Academic Committee of the China Capital Market Association and the first full committee meeting, and hosted an expert symposium on capital market “15th Five-Year Plan” planning. Wu Qing said that the Securities Regulatory Commission will thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the Central Economic Work Conference, solidly push forward the preparation and implementation of the “15th Five-Year Plan” of the capital market, closely follow the main lines of risk prevention, strong supervision and promotion of high-quality development, continue to deepen comprehensive capital market investment and financing reforms, steadily expand the high-level opening of the system to the outside world, continue to enhance the inclusiveness and appeal of the capital market system, and better serve high-quality economic development and the overall situation of Chinese-style modernization.

The original text is as follows:

Wu Qing attended the inaugural meeting of the Academic Committee of the China Capital Market Association and held an expert symposium on capital market “15th Five-Year Plan” planning

On December 18, 2025, Wu Qing, chairman of the China Securities Regulatory Commission and president of the China Capital Markets Association, attended the inaugural meeting of the Academic Committee of the China Capital Market Association and the first full committee meeting, and hosted an expert symposium on capital market “15th Five-Year Plan” planning. Li Chao, vice chairman of the China Securities Regulatory Commission and executive vice president of the China Capital Markets Association, and Li Yang, chairman of the Academic Committee of the China Capital Market Association, attended the conference. Members of academic committees at home and abroad, heads of professional committees, heads of key research centers, and media representatives attended the conference.

The establishment of an academic committee is an important arrangement for the China Capital Market Association to raise the level of theoretical research and play the role of a think tank platform. Wu Qing pointed out that strengthening capital market theory research is an urgent need to thoroughly study and implement General Secretary Xi Jinping's important remarks on financial work and deepen understanding of the rules of capital market development. It is of great significance in speeding up the formation of a theoretical system that not only follows the general rules of the market but also conforms to China's reality, promote high-quality development of the capital market, and actively participate in global financial governance cooperation. We must firmly grasp the correct political direction and academic orientation, and adhere to marketization, rule of law, and internationalization. Rooted in China's capital market practice, focusing on key issues such as the inclusive appeal of the capital market, pricing efficiency, fintech, and the establishment of the rule of law, continuously improving the theoretical framework and methodology, and providing solid theoretical support to accelerate the construction of a strong capital market. Wu Qing stressed that the Society should thoroughly implement the original intention and mission of theoretical research, unite and unite capital market research forces and expert teams from various fields, build an open and collaborative research ecosystem, strengthen the transformation and application of achievements, and continuously enhance the leading value of theory.

The conference also discussed and listened to the opinions and suggestions of some experts and scholars on the preparation of the capital market “15th Five-Year Plan” and capital market work in 2026. During the discussion, everyone agreed that the trend of healthy and stable development of the capital market during the “14th Five-Year Plan” period continued to form and continue to be consolidated, and that the “15th Five-Year Plan” period was a critical stage for improving the quality, efficiency, and function of the capital market. At the meeting, everyone put forward forward-looking and constructive opinions and suggestions on how to improve the “15th Five-Year Plan” of the capital market, mainly including further improving the inclusiveness and adaptability of the issuance and listing transaction system to attract more high-quality enterprises in the field of new productivity; expanding the supply of patient capital, long-term capital and strategic capital; continuing to activate the merger, acquisition and restructuring market, strictly normalizing delisting; promoting the improvement of the governance and supervision of the application of artificial intelligence in the capital market; and strictly cracking down on financial fraud and strengthening investor protection and education. Wu Qing said that the Securities Regulatory Commission will thoroughly study and implement the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the Central Economic Work Conference, solidly push forward the preparation and implementation of the “15th Five-Year Plan” of the capital market, closely follow the main lines of risk prevention, strong supervision and promotion of high-quality development, continue to deepen comprehensive capital market investment and financing reforms, steadily expand the high-level opening of the system to the outside world, continue to enhance the inclusiveness and appeal of the capital market system, and better serve high-quality economic development and the overall situation of Chinese-style modernization.

This article was selected from “Securities Regulatory Commission Release”, Zhitong Finance Editor: Chen Wenfang.