中国证监会最新召开会议就2020年工作做出部署，表示要稳步推进以信息披露为核心的注册制改革，努力办好科创板，支持和鼓励更多“硬科技”企业上市；用好用足相关法律规定，显着提升违法违规成本，推动刑法修改、期货法立法，推动出台私募基金条例和新三板条例。

证监会网站周五（1.17）发布2020年证监会系统工作会议，称将加强对杠杆资金和输入性、交叉性风险的监测研判，强化预期引导，积极防范和化解市场运行风险；坚持分类施策、精准拆弹，遏制增量与化解存量并举，继续稳妥做好股票质押、债券违约、私募基金、行业机构及各类交易场所等重点风险的防控处置。

会议提出，要平稳推出创业板改革并试点注册制。推动新三板改革平稳落地。持续推动提升权益类基金占比，多方拓展中长期资金来源，促进投资端和融资端平衡发展。

会议认为，当前资本市场正面临难得发展机遇，大力发展直接融资、实体经济潜能持续释放、居民财富管理需求迅速增长、金融供给侧结构性改革深入推进，都为资本市场发展提供支撑、注入活力。

“同时，外部环境更趋复杂严峻，宏观经济运行挑战增多，金融风险面临新的考验，做好资本市场工作需要付出更大努力。”会议称。

证监会提出，要科学合理保持IPO常态化发行，推动再融资改革落地。稳妥推动基础设施REITs试点。加大商品和金融期货期权产品供给。有序推进私募基金市场风险出清和行业重整。

会议要求，全面理性客观研判市场运行趋势，引导、推动改善投资者结构，推动上市公司聚焦公司治理、抓实合规底线、强化敬畏“上市”理念，督促行业机构崇尚专业、做精主业、回归本源，全面做好新证券法实施后的制度适应和监管适应。

历时四年多，中国证券法终于完成大修。新修改的证券法12月28日经全国人大常委会表决通过，为分步稳妥推进注册制打开法律空间，明确全面推行注册制，取消发审委，同时加强投资者保护创新证券民事诉讼制度，全面升级证券领域违法犯罪处罚力度。新法自2020年3月1日起施行。

China securities regulator says to balance equity supply and demand this year

China’s securities watchdog said on Friday that it would keep equity supply and demand in balance in 2020 as it pushes for further reforms in the capital markets while containing financial risks.

The China Securities Regulatory Commission (CSRC) reiterated plans to introduce a registration-based mechanism for initial public offerings (IPOs) on Shenzhen’s start-up board ChiNext this year, according to a statement on the regulator’s website.

The U.S.-style IPO system is the basis of Shanghai’s Nasdaq-style STAR Market, which was launched in 2019, and hailed as China’s boldest capital market reform yet.

CSRC said that it would encourage the listing of companies, especially tech firms. Meanwhile, regulators will continue to promote the launch of equity funds, and expand the source of long-term capital, so as to balance fundraising and investment capital.

CSRC said it will also promote a pilot scheme for infrastructure-based real estate investment trusts (REITs), and will increase the supply of futures and options based on commodities or financial assets.