Xinhua (March 16) reported that China's Financial Stability and Development Committee of
the State Council held a special meeting on March 16 to study the current economic situation
and capital market issues. The meeting was chaired by Liu He, Politburo member, Vice Premier
of the State Council, and Director of the Financial Stability and Development Committee, and
comrades in charge of relevant departments attended the meeting. The meeting pointed out that
in the current complex situation, the most critical thing is to adhere to the “development is the
Communist Party of China's top priority in governance”, adhere to the "economic development as the central task", adhere to deepening reform and expanding opening-up etc. Regarding
Chinese companies listed in the United States, the meeting said that China’s CSRC and the
U.S. SEC have maintained good communication and have made positive progress, and are
working to form specific cooperation programs. It said the Chinese government continues to
support all types of enterprises to go public outside China. A Xinhua report (March 17) clarified
that the meeting discussed macroeconomic operation, real estate companies, Chinese concept
stocks, platform economic governance, and Hong Kong financial market stability among other
issues. It said the meeting gave a clear direction to "maintain the economic operation within a
reasonable range, and maintain the stable operation of the capital market."
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