Chinese regulator looks to boost market stability and confidence in uncertain climate

China’s financial market regulator has pledged to prioritise market stability and confidence this year as the country braces for more uncertainty.

In an article published in Communist Party magazine Qiushi on Saturday, Wu Qing, chairman of the China Securities Regulatory Commission, warned that capital markets in China faced both external and internal risks this year.

“We have to have a comprehensive and objective analysis about financial markets. On the one hand we face risk factors and challenges, but more importantly, we have to ensure market confidence.”

Wu also said the agency would improve Hong Kong’s status as an international financial centre and expand cooperation with overseas markets, as well as support the listing of high-quality tech companies.

“[We must] consider the broader context of economic and social development when planning and promoting capital markets,” Wu wrote.

“[It is important to] be aware of potential external influences and to coordinate promptly with relevant parties to prevent and address risks and hidden dangers, thereby avoiding major shocks to the market.”