June 30 — China's securities regulator, the CSRC, chaired by Party Secretary and
Chairman Wu Qing, held a Beijing meeting on central-local coordination to
strengthen the capital market's comprehensive anti-fraud enforcement system.
After over two years of work the regulator said the framework has improved and
market ecology has been cleaned, and set out measures to: tighten joint
punishment and social supervision to constrain dishonest actors and build
prevention mechanisms; deepen regulatory cooperation and information sharing to
bolster risk-handling; and intensify action against parties that collude in
accounting fraud by improving tip-off and feedback channels and increasing
enforcement to dismantle the fraud ecosystem.
