China's Vice Premier, Liu He, has called for increased support for listed firms in the midst of a recent market downturn. With the turbulence experienced by Chinese stock markets in recent weeks, Liu He's call for assistance aims to restore stability and confidence in the economy.
The Chinese stock market has been under pressure recently due to a number of factors, including concerns over potential economic slowdowns, regulatory crackdowns, and the impact of the COVID-19 pandemic. As a result, many listed firms have experienced significant losses in their market value, leading to increased volatility and uncertainty.
In an effort to address these challenges, Vice Premier Liu He emphasized the importance of providing support to listed firms during a recent meeting. He highlighted the need to maintain the stability of the stock market and ensure the healthy development of listed companies, which play a vital role in the Chinese economy.
Liu He underlined that listed firms are a key pillar of China's financial system and contribute significantly to economic growth, innovation, and employment. Therefore, it is crucial to provide them with necessary support and guidance during periods of market volatility.
The vice premier called on relevant authorities to strengthen communication with listed firms and improve policies to better serve their needs. This includes enhanced financial support, policies to encourage long-term investment, and the acceleration of the registration-based initial public offering (IPO) system reforms.
Additionally, Liu He urged efforts to prevent systematic financial risks and ensure that listed firms can meet their obligations to investors, thus ensuring market stability. He encouraged regulatory authorities to provide better guidance and supervision to listed firms, enhancing their awareness and understanding of risk control measures.
Furthermore, the vice premier stressed the importance of optimizing the business environment for listed firms, facilitating their development, and promoting fair competition. This would involve reducing unnecessary administrative procedures, enhancing intellectual property protection, and strengthening support for technological innovation.
As China's government works to stabilize the market, restore investor confidence, and boost economic recovery, the call for increased support for listed firms comes as a timely and necessary measure. By providing assistance and implementing reforms, the government aims to create a favorable environment for listed firms to thrive and contribute to the country's economic growth.
In conclusion, Vice Premier Liu He has emphasized the need for heightened support for listed firms during the current market turbulence in China. By recognizing their importance to the economy and implementing measures to promote stability, the government aims to restore confidence in the market and foster the long-term development of listed companies. Through financial support, policy improvements, and reforms, China is taking proactive steps to ensure that listed firms have the necessary resources and guidance to withstand market stresses and contribute to the country's overall economic well-being.
