Wallstreetcn
2023.12.28 06:22
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China's assets surge! Supreme People's Procuratorate and Social Security Fund make a significant statement.

The Supreme People's Procuratorate has issued the "Opinions on Fully Exerting the Function of Prosecution to Serve and Guarantee the High-Quality Development of the Financial Sector in Accordance with the Law". It emphasizes the need to strengthen the crackdown on financial crimes in high-risk areas, highlight the fight against various forms of illegal financial activities, and continue to increase efforts to prosecute money laundering and related crimes.

On Thursday, A-shares surged with high trading volume, ChiNext rose more than 4%, and the new energy sector exploded across the board. Previously, foreign capital, which had been continuously flowing out, suddenly turned around and net purchased over 12 billion yuan in the morning.

On the news front, the Supreme People's Procuratorate and the Social Security Fund have both made relevant statements on the healthy operation of the capital market.

The Supreme People's Procuratorate issued the "Opinions on Fully Exerting the Function of Procuratorial Authority to Serve and Guarantee the High-Quality Development of the Financial Sector" on Thursday, clarifying the goals, tasks, and measures for the work of financial procuratorial authority in the future period from the aspects of performing procuratorial functions with high quality and efficiency, improving the institutional mechanisms of financial procuratorial authority, optimizing the financial ecosystem, and strengthening organizational leadership.

The "Opinions" focus on the key point of comprehensively strengthening supervision and preventing and resolving risks, and propose the key tasks of criminal, civil, administrative, and public interest litigation procuratorial authority based on their procuratorial responsibilities. In terms of criminal procuratorial authority, the focus is on intensifying efforts to crack down on financial crimes in high-risk areas, highlighting the crackdown on various illegal financial activities, continuously increasing the prosecution of money laundering and related crimes, properly handling risks in small and medium-sized banks and other financial institutions in accordance with the law, severely cracking down on securities crimes such as financial fraud and market manipulation, and resolutely punishing financial corruption crimes, in order to precisely and effectively prosecute and punish financial crimes, deter financial crimes, and prevent financial crimes.

The "Opinions" propose that procuratorial authorities should adhere to the dual emphasis on crime control and governance, optimize the financial ecosystem, and put forward six measures:

First, actively participate in the construction of the rule of law in the financial sector, with a focus on promoting the effective connection between administrative legislation and criminal legislation in the financial field through legislative proposals and judicial interpretations. Second, strengthen the early warning and disposal of financial risks in combination with case handling, and promote the improvement of self-discipline management in the financial industry. Third, promote comprehensive strengthening of financial regulation through issuing procuratorial recommendations, etc., and promote the realization of full coverage of financial regulation. Fourth, coordinate and regulate financial innovation activities in accordance with the law, timely disclose and crack down on new types of financial illegal activities and crimes. Fifth, vigorously promote the marketization and rule of law construction in the financial field, protect technology finance, green finance, inclusive finance, pension finance, and digital finance, and fully utilize compliance reform of involved enterprises, warning education for practitioners, and other means to promote the comprehensive formation of a law-abiding and honest operation financial market environment. Sixth, explore the establishment of a regular mechanism for the publicity and education of the rule of law in financial crime by procuratorial authorities, help cultivate a legal atmosphere in the field of financial consumption, and continuously enhance the ability of the whole people to identify and prevent financial fraud risks.

At the same time, the Social Security Fund also made a significant statement.

According to Xinhua Finance, relevant departments of the National Social Security Fund Council interpreted the "Management Measures for Domestic Investment of the National Social Security Fund (Draft for Solicitation of Comments)" and stated that the "Management Measures" focus on promoting the institutionalization and standardization of the management and operation of the social security fund, enriching the toolbox for the allocation of the social security fund from the aspects of expanding the investment scope and enhancing the investment breadth, and creating conditions for preserving and increasing the value of the fund.

Wang Zhibin, Director of the Equity Assets Department of the Social Security Fund, said that recently, with the support of the China Securities Regulatory Commission, the Social Security Fund is actively promoting participation in the non-public issuance of listed companies as strategic investors. This will further open up investment space, inject long-term funds into the capital market, and better support the development of the capital market.