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CSRC Issues Guidelines on Using Capital Markets to Fight Poverty

The China Securities Regulatory Commission (CSRC) has given the green light to companies operating in impoverished counties to go for launching IPO, stock market listing, bond issuance and mergers and acquisitions.

The proposal was set out in the Opinions on the National Strategy of Using Capital Markets to Fight Poverty (CSRC Announcement No.19 [2016]) recently issued by the securities regulator in a bid to support the industrial development of poor regions and help the impoverished masses escape poverty.

The circular called for the concerted efforts of CSRC and capital market players to implement the state strategy of poverty alleviation by supporting multi-layered capital market financing for companies in impoverished regions, supporting and encouraging fulfilment of social responsibility in poverty alleviation by listed companies, institutional operators in securities, funds and futures, and strengthening investor protection in poor regions.

Taking advantage of the capital markets to implement the basic strategy of targeted poverty alleviation, CSRC is to launch policies zeroing in on poverty alleviation, knitting tightly with impoverished villages and poor households, and to establish a poverty relief peg bringing gain to the poor masses materially.

The circular proposed to press ahead with improving the safeguard mechanism for the state strategy of poverty alleviation. It called for a targeted approach to poverty alleviation in strengthening organisational leadership, sharpening human talents, enhancing performance assessment mechanism, and strengthening publicity and guidance.

Currently, related implementation details are being formulated by various CSRC divisions and other authorities concerned in accordance with the circular.

Content provided by Picture: HKTDC Research
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