National People's Congress Deputy and former Director of Henan Securities Regulatory Bureau, Niu Xuefeng: Strengthen Policy Expectation Management and Enhance Market Information Governance

LightningPacketLoss · 2026-03-27T02:01:47+00:00

National People's Congress Deputy Niu Xuefeng suggests strengthening information governance in the capital market to address the spread of false information and investors' rights protection issues. He advocates establishing a multi-level accountability mechanism, severely punishing false policy interpretations, maintaining market order, and enhancing the effectiveness of policy expectation management.

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2026-03-27 02:01:47

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People’s Financial News, March 7 — At the 2026 National People’s Congress, NPC Deputy and former Director of the Henan Securities Regulatory Bureau, Niu Xuefeng, suggested strengthening policy expectation management and improving information governance in the capital markets.

Niu Xuefeng stated that currently, China’s capital market information governance still faces issues such as imprecise policy transmission, the easy spread of false information, and difficulties in protecting investors’ rights, which hinder high-quality market development and the effectiveness of macro policy expectation management.

Regarding false, misleading, or misinterpreted policy behaviors, Niu Xuefeng believes that accountability and disciplinary measures should be strengthened. He recommends that the Cyberspace Administration of China lead the effort to establish a three-dimensional accountability system covering civil, administrative, and criminal responsibilities. This system should crack down severely on false, misleading, or misinterpreted policy behaviors, with timely measures such as ordering the removal of harmful information, fines, and account bans. For malicious false information that causes significant market volatility or substantial losses, legal action should be taken to pursue criminal responsibility, along with comprehensive civil accountability.

(Edited by: Wen Jing)

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