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China will crack down on illegal activities in the securities market and promote the high-quality development of the capital market, according to an official document released on Tuesday.

The document was jointly issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council.

It specifies the targets in upgrading the securities law-enforcement and judicial systems by 2022 and 2025, including effectively curbing the frequent occurrence of major illegal and criminal cases, as well as making notable advances in the transparency, standardization and credibility in the securities law-enforcement and judicial system.

Efforts should be made to improve the securities legislation mechanism, while strengthening criminal punishment and market discipline, read the document.

In terms of law enforcement in cracking down on illegal securities activities, the document calls for improving the investigation, inspection and trial mechanisms.

The country should strengthen cross-border oversight of law-enforcement and judicial cooperation and step up efforts to build the credit system in the capital market, the document added. 

Email: gaohan@nbd.com.cn