Recommendations made by CIRD

  Time:2015-09-21   Hits:0


24 recommendations on Reforms concerning streamlining administration and delegating powers with the focus placed on regulatory transformation  


I. Taking regulatory transformation as top priority in streamlining administration and delegating powers  

1. The lag in regulatory transformation triggers a string of problems  

2. The lag in regulatory transformation constraints and hinders reforms on streamlining administration and delegating powers  

3.  Putting in place a practical path for streamlining administration and delegating powers with top priority given to regulatory transformation  


II.  Regulation improvement  

4. Regulatory system including professional and comprehensive regulation should be improved and optimized in order to realize strict separation of administrative approval and market supervision.  

5. To implement legal person commitment system of and to form corporate-credit-based supervision system after projects.  

6. Fully implementing enterprise independent registration system.  

7. Project recordation system of corporations could be removed timely and gradually 


III. Financial regulation transformation is the pressing priority  

8. Transformation of financial regulation is at a key historical juncture, while a stable capital market is critical.  

9. A package of plan based on “capital market policy backing” should be rolled out as soon as possible. 

10. Making sharing out bonus mandatory for listed companies and taking this as first priority in establishing a capital market regulatory system with the orientation of protecting investors’ interests.  

11. Taking overall coordination as the starting point in setting up a new regulation system for mixed financial supervision operation. 


IV. Unleashing potential of domestic demand through regulatory transformation  

12. The lag in regulatory transformation impedes release of the potential of domestic demand market.   

13. Quickening regulation transformation for consumer goods market with the priority placed on establishing a traceability system.  

14. To establish a standard system for regulating service industry as soon as possible.  


V.  Innovating means of regulation with big data  

15. To set up big data supervision system to promote information sharing among regulatory departments at all levels.  

16. Innovating the means of regulation with the focus on achieving professional, technical and standard supervision. 

17. Self-discipline of trade associations and chambers of commerce should be stressed.  

18. Encouraging various resources including the public and the media to involve in market regulation.  


VI. Readjustment and optimization of the power structure of market regulation   

19. Establishing the State Administration for Financial Supervision at an early date  

20.  Establishing the State Administration for Market Supervision and Management at an early date 

21. Establishing State Anti-monopoly Administration at an early date   


VII. Accelerating the process of making the market regulation law-based 

22. To speed up the legislation, amendment, abolishment and explanation of important laws concerning market regulation.  

23. Defining and releasing power list and responsibilities list of governments at all levels according to law 

24. Building standardized regulation procedures according to law 




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