Pan Gongsheng: Study and formulate the "Regulations on Company Bond Management" unified all kinds of systems and implementation standards

Pan Gongsheng, deputy governor of the People's Bank of China, wrote an article in "China Finance" a few days ago that in the next stage, the People's Bank of China will continue to deploy in accordance with the Party Central Committee and the State Council to implement the requirements of serving the real economy, preventing and controlling financial risks, and deepening financial reform. Fang worked together to solidly promote the reform and opening up and high -quality development of the Chinese bond market, and provide strong support for accelerating the construction of a modern economic system and accelerating the construction of a new development pattern.

Pan Gongsheng pointed out that one is to build a multi -level market system for efficient Unicom and cultivate a diversified qualified investor team. Accelerate the orderly connectivity of the infrastructure of the bond market to achieve free flow of factors. Steadyly developing the counters of financial institutions to meet the market diversified investment and financing needs. Strengthen the innovation of the bond market system and product innovation, and improve the coverage and inclusiveness of the bond market. In accordance with the principle of co -construction and sharing, the construction of the overall transaction report covers the entire market. In accordance with risk identification and responsibility, strengthen access management, and improve the appropriate system of investors.

The second is to consolidate the legal system of the bond market, strengthen regulatory collaboration, and strengthen risk prevention and control. Promote the improvement of the "Company Law", "Securities Law", "Enterprise Bankruptcy Law" and "People's Bank of China Law" to consolidate the foundation of the upper law. Study and formulate the "Regulations on the Management of Corporations", in accordance with the principle of classification and convergence, uniformly uniformly and implement standards, and clarify the issuance and transfer of credit bonds, information disclosure, investor protection, and legal responsibility of non -public issuance of corporate bonds. Strengthen the tracking monitoring and information sharing of market abnormal transactions, risk of breach of contract, and overall leverage, and promote early recognition, early warning, and early disposal of risks. Strengthen information disclosure supervision, improve the quality of credit rating, and promote risk disclosure and risk pricing. Improve and implement the mechanism of breach of contract for marketization and rule of law to improve the efficiency of risks and clearing.

The third is to continue to promote high financial opening. The international standard of international traffic, take into account my country's practice, continuously improve the institutional system and regulatory model, and further promote the open transformation of the bond market from the opening of factor flow to the rules. Adhere to the overall national security concept, improve macro -prudential management, strengthen the supervision of cross -border capital flow, do a good job of real -time monitoring of market operation, build systemic risk monitoring, evaluation and early warning mechanisms, and promote the reform and opening up and high quality of the bond market on the basis of ensuring financial security. develop.

Responsible editor: Chen Yuyao | Review: Li Zhen | Director: Wan Junwei

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