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The call made by Xi Jinping, general secretary of the Communist Party of China Central Committee, for more study of the
May Fourth Movement, will help younger generations better understand the value of its spirit, observers said.
Xi underlined the need to strengthen studies of the May Fourth Move
ment and its spirit during a speech at the group study session of the Political Bureau of the C
PC Central Committee on Friday, according to a news release issued on Saturday.
This year is the 100th anniversary of the movement launch
ed by young intellectuals and participated in by people from all walks
of life. It was a political, anti-imperialist movement that stemmed from student demonstrations in Beijing on May 4, 1919.
Presiding over the session on the historical significance and modern value of the movement, Xi said the studies shoul
d elaborate on why the movement is of great and far-reaching significance for development and progress in conte
mporary China, and why Marxism has become a guide for the cause of the Chinese people’s revolution, construction and reform.
on the new science and technology innovation board, which will pilot the registration-based IPO system, according to Xinhua.
To accommodate the progress of reforms and development of the capital market, other modifications have also been made, cov
ering public issuance of securities, securities trading, and the protection of investors’ rights and interests, Xinhua said.
Dong expects the latest version to legitimize registration-based IPO systems not only
on the new board, but also across China’s whole A-share market. “Once the system achieves success on the n
ew board, it should be adopted on other submarkets as soon as possible,” Dong said.
President Xi Jinping announced in November that China will launch the S&T innovation board and pilot the registr
ation-based IPO system. Analysts expect the new board to begin trading around the middle of this year.
“The latest draft is expected to make comprehensive revisions, and it could go a long way
toward restoring public investors’ confidence and modernizing the regulation and governance of the ca
pital market,” said Liu Junhai, director of the Business Law Center at Renmin University of China.
reforms to foster an investor-friendly legal system, represented by strengthened information disclosure, prot
ection of investors’ rights and interests, and crackdown on legal breaches, Liu said.
China must promote the healthy development of the capital m
arket through key institutional innovations, the Political Bureau of the Communist Part
y of China Central Committee, the Party’s core leadership, said a statement released after a meeting on Friday.
Dong said the revised law is likely to be adopted by the end of the first half of the ye
ar, adding it is imperative and possible to expedite rolling out the revised version.
“Previously, controversies over the registration-based IPO system reform ha
ve prolonged the revision process, but now this factor has been largely lifted,” he said.
“As foreign investors are set to play a bigger role in China’s capital
market development, the revised law should also consider clarifying the rights and oblig
ations of overseas investors, to help them form a stable policy expectation,” said Xue Yi, an associate p
than 150 countries, including 37 heads of state or government, for the thre
e-day event starting on Thursday, Wang said, adding the forum, themed “Belt and Road Coop
eration: Shaping a Brighter Shared Future”, aims to bring about high-quality cooperation under the initiative.
President Xi Jinping will deliver a keynote speech at the op
ening ceremony of the forum, and chair the leaders’ round-table summit, Wang said.
Saying the BRI has delivered real benefits to participating countries, Wang stated the hats like “debt traps” cannot be put onto t
he head of the Belt and Road, and this is not something any participating country would recognize.
He added that international communities should base their understandings and comments about the BRI on the facts.
Trade volume between China and the countries participating in the B
RI has exceeded $6 trillion, the number of investment is over $80 billion and arou
nd 300,000 jobs have been created for the people from the countries involved in the initiative, Wang said.