(Yicai Global) July 26 -- China's securities regulator will bring out comprehensive measures across investment, financing, and trading to further stimulate the vitality of the capital market it said after a two-day meeting to discuss the direction of the watchdog’s work in the second half of the year.

The priorities include maintaining the rational normalization of initial public offerings and refinancing, improving the capital market's institutional system for risk prevention, warning, and handling, maintaining the market’s smooth operation, and supporting private firms to achieve high-quality development through the market, the China Securities Regulatory Commission said in a statement released late yesterday after the conclusion of its work conference.

Moreover, efforts will be made to improve the institutional mechanism that supports first-class tech companies and the accuracy of services on the Star Market and ChiNext technology boards and to advance the implementation of publicly-offered real estate investment trust projects including for consumer infrastructure, the CSRC noted.

China should further deepen the reform and opening-up of the capital market, taking into account openness and safety, to effectively manage offshore listing work and approve more applications, the regulator added.

The CSRC pointed out that it will step up efforts against fraudsters in the capital market by boosting oversight, exploring the use of more modern technologies, and enhancing the ability to uncover problems. It will also promote the role of accounting firms, law firms, and intermediary agencies to control fraud and stiffen penalties.

Effective measures to prevent and resolve local debt risks will be implemented too, the CSRC said. Coordination between stocks and bonds will be tightened to stabilize the capital market financing channels of property firms.

Editors: Liao Shumin, Futura Costaglione