2023-07-04
The guideline stated that systematic arrangements should be optimized for long-term institutional investors. Social security, pension fund, trust, insurance and wealth management institutions are encouraged to direct more capital to equity assets, especially to quality companies' stocks.
All the market entities will be treated equally, and no additional conditions or invisible thresholds will be set for any company. Privately owned enterprises are encouraged to go in for lawful IPOs, mergers, restructuring and bond issuances. The vitality and creativity of privately owned enterprises should be boosted. These companies should play a bigger role in terms of stabilizing economic growth, stimulating innovation, providing more job opportunities and improving people's livelihoods, the guideline stated.
Policy arrangements can be expected for companies located in COVID-hit areas or those specializing in epidemic control and prevention. Listed companies will be exempted from expenses like annual fees and proxy voting services fees for this year, the guideline stated on Monday.
Chen Li, the chief economist of Chuancai Securities, said the policies aiming to mitigate the negative impact of the epidemic will help stabilize market expectations and lead to growth in the mid to long run.
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