China Securities Regulatory Commission : CSRC Held a Working Conference on the Discipline Inspection of National Securities and Futures Regulatory System in Beijing

January 22, the CSRC held a working conference on the discipline inspection of the CSRC system in Beijing to communicate the spirit of the Second Plenum of the 18th CPC Central Commission for Discipline Inspection. The CSRC Party Secretary Mr. Guo Shuqing raised overall requirements on the implementation of the spirits of the 18th CPC Congress and the Second Plenum of the 18th CPC Central Commission for Discipline Inspection and Secretary of the CSRC Discipline Inspection Commission Mr. Li Xiaohong made specific arrangements on the CSRC's discipline inspection activities in 2013.

Mr. Guo Shuqing stressed the importance of putting people first and maintaining closer ties with the people. He called for serious considerations on how to better protect the lawful rights and interests of investors, financiers and other market actors, the promotion of leadership in abiding by the Constitution, laws and regulations in the service of economic and social development, the promotion of openness in Party affairs and regulatory activities, and the open and transparent exercise of power. Requirements on changing regulatory work style must be strictly implemented so as to develop the habit and awareness to care for the people and maintain closer ties with the people.

Mr. Guo Shuqing demanded that the basic system should be continuously improved to build regulatory institutions that are satisfactory to the public and the market. First, continuing to streamline administrative affairs and delegate power and transforming the functions of the regulatory authority; Second, improving the quality of service and advocating proactive services to enterprises and investors; Third, carrying out regulatory activities strictly by the law and attaching special attention to comprehensive law enforcement and administration by law; And fourth, pressing ahead with the reform of categorizing administrative institutions and continuously improving governance structure.

Mr. Guo Shuqing said that efforts must be made to increase creativity, cohesion and effectiveness and give full play to the role of Party organizations as a bastion. First, keeping up with learning and updated with advanced theories, broadening horizon and increasing the level of appreciation; Second, the Party's political discipline must be obeyed to maintain a high level of political consistency with the Central Government; Third, perfecting democracy within the Party and invigorating the Party; Fourth, continuing to deepen the reform of personnel system for cadres and further increasing public confidence of the selection and appointment of cadres; And fifth, cadres and especially those at leadership positions who are Party members must be bravely assume responsibilities and take ownership for the consequences of their actions.

Mr. Guo Shuqing stressed that corruption must be steadfastly opposed and the responsibility system for Party conduct and clean governance should be strictly put into place. Every case must be investigated and every corrupt action must be penalized. Seriously implement the responsibility system for Party conduct and clean governance, implement the system of "one position with dual responsibilities", and focus on both regulatory activities and anti-corruption efforts.

Mr. Li Xiaohong noted that in 2013, the development of corruption prevention and punishment system must be pressed ahead in an all-round manner with the theme of strict discipline and especially political discipline of the Party and with the priority of improving work style and developing a clean governance risk prevention and control mechanism to secure the development of a multi-tiered capital market. First, vigorously enhancing the Party's discipline and effectively safeguarding the authoritativeness and seriousness of the Party Constitution. Second, strictly implementing the eight rules of the Central Government on improving work style and staying in close contact with the people and earnestly establishing a positive culture in the regulatory authority. Actions must be taken to correct writing style, change meeting style, transform work style and establish a progressive culture. Thirdly, lose no time in establishing a clean governance risk prevention and control system in order to assure that power is exercised properly. Fourth, focusing on both penalty and prevention as two equal priorities and effectively increase the overall efficiency of anti-corruption and clean governance. Fifth, continuously strengthening the development of discipline inspection cadres and effectively improving the capabilities and level of performing duties in a scientific manner.

The conference was attended by all the members of the CSRC's Party Committee and Discipline Inspection Commission, heads of the CSRC departments, and Secretaries of Party Committees and the Discipline Inspection Commissions of various entities within the CSRC system.