The China Securities Regulatory Commission (CSRC) said it has responded to all 87 proposals of the National People's Congress (NPC) and Chinese People's Political Consultative Conference (CPPCC) last year.
According to the CSRC, the proposals focused on four areas: fully using the potential of the capital market; improving the capital market system; strengthening infrastructure and supervision of securities and futures markets; and solving equity segment problems.
Twenty of the proposals concerned the third area, apparently reflecting the priority NPC deputies and CPPCC members gave to promoting reform, openness and stable development of the market.
The CSRC said it had improved management of listed companies in 2004 by building infrastructure, promoting independence of directors, encouraging mergers and acquisitions and enhancing information publication.
It also said it had improved listed companies' operations by: establishing controls to set regulations before listing; legal review and investigating responsibility when accidents occur; and promoting the establishment of systems of credit evaluation and accountability for local supervisors.
(China.org.cn by Li Shen, March 3, 2005)
