证券业监管年度报告

Abstract:China’s securities market had experienced an abnormal turmoil in 2015 due to both internal and external influences. This gets China’s securities regulatory system and securities trading rules under broad attention. China’s securities market regulation in 2015 continues its past reforms，but has some new traits. For instance，CSRC promotes the reform of IPO from approval-based system to registration-based system（although currently not launched）；National Equities Exchange and Quotations（NEEQ）experienced a booming development；new corporate bond market grew several times larger；CSRC strengthened its law investigation and enforcement team；Securities regulation was simplified and private fund got regulated more tightly. In the future，we forecast that China’s securities market regulation will become stricter and more comprehensive，and more accordance with the law. CSRC will be more likely to transform from institution regulation to functional regulation，and the macro prudential regulation will be strengthened in China’s securities market.

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