China's securities regulator to advance rule of law in capital markets

China's securities regulator said Friday it will advance the rule of law in the capital markets to make them more safe, well-regulated, transparent, open, vibrant and resilient.

The capital markets will continue to help the real economy and support the development of new quality productive forces, according to the China Securities Regulatory Commission.

Efforts will be made to deepen and solidify the registration-based system for stock listing, reinforcing the institutional basis for stable market development while ensuring that no systemic risks arise, the regulator said.

It highlighted the principle that financial oversight must have "teeth and thorns" and be sharp-pointed, with a "zero tolerance" policy toward illegal activities in the securities and futures markets.

The regulator also urged efforts to improve institutional mechanisms for investor protection. ■