Group 1 - The article emphasizes the importance of the 20th Central Committee's Fourth Plenary Session in guiding the futures industry towards high-quality development and political responsibility [2][4][5] - The futures industry is committed to integrating the spirit of the Plenary Session into its operations, enhancing political awareness, and ensuring the implementation of the Party's decisions [3][5] - The association is actively promoting various initiatives to strengthen the political leadership within the industry, including the establishment of a long-term mechanism for party-building and business development integration [4][5] Group 2 - The article highlights the principle of "people first," emphasizing the need for the futures industry to focus on improving the quality of life for the people as a key goal during the 14th Five-Year Plan period [6][7] - The industry is encouraged to incorporate social responsibility into its development strategy, particularly through initiatives like the "insurance + futures" model to support rural revitalization [7][8] - The association plans to further guide the industry in practicing the political and people-oriented nature of financial work, particularly in rural development and community support [7][8] Group 3 - The article stresses the importance of serving the real economy as a fundamental purpose of the futures industry, aligning with national strategies for economic development [8][9] - The association is focused on providing tailored risk management solutions for enterprises, with significant trade volumes reported, including a total of 485.149 billion yuan in trade for small and medium-sized enterprises [8][9] - The industry is expected to actively participate in green finance and support the development of green derivatives markets as part of its commitment to high-quality economic growth [9] Group 4 - The article discusses the cultivation of a distinctive financial culture within the futures industry, guided by Xi Jinping's thoughts and traditional Chinese culture [10][11] - The association is implementing measures to promote a culture of compliance, integrity, professionalism, and responsibility, which are essential for the industry's long-term development [10][11] - The futures industry is encouraged to integrate cultural development into its strategic planning and operational management, ensuring alignment with its core values and governance [11]

基层宣讲强引领 一线交流促实干 ——上交所党委走基层赴一线学习宣传全会精神 （上海证券交易所党委） 根据中国证监会党委学习宣传贯彻党的二十届四中全会精神统一部署，上海证券 交易所（以下简称上交所）党委坚决扛起政治责任，坚持以上率下、知行合一，扎实 开展全会精神学习宣讲，认真抓好全会部署贯彻落实，进一步增进共识、增强信心、 增添干劲，以深化资本市场改革实践行动推动全会精神在上交所落地见效。 一、求真务实精部署，强化党委政治引领 上交所党委坚持把学习宣传全会精神作为一项重大政治任务，把准方向导向，做 好组织动员，全力推动全会精神直抵基层、深入人心、见行见效。精心组织部署，上 交所党委认真落实证监会党委学习宣传贯彻全会精神统筹部署，准确把握"十五五"时 期资本市场工作的主要目标和面临的形势任务，结合工作实际，及时研究制定学习宣 传贯彻全会精神实施方案，细化17条具体举措，明确部门责任分工，狠抓任务贯彻落 实。设立"十五五"规划工作领导小组，加强对规划研究与编制工作的统筹谋划、指导 部署。坚持示范引领，上交所党委书记先后在党委会"第一议题"、 理论学习中心组 学 习会及基层党组织，带头学习宣讲四中全会精神，及时传达学 ...

会议强调，今年是中国共产党成立105周年，是"十五五"开局之年。全国人大常委会、国务 院、全国政协、最高人民法院、最高人民检察院党组要以习近平新时代中国特色社会主义思想为 指导，深入贯彻党的二十大和二十届历次全会精神，认真落实四中全会部署，坚持党中央集中统 一领导，深刻领悟"两个确立"的决定性意义，增强"四个意识"、坚定"四个自信"、做到"两个维 护"，始终在思想上政治上行动上同以习近平同志为核心的党中央保持高度一致，不折不扣把党 中央各项决策部署落到实处。要锚定"十五五"时期经济社会发展的重大战略任务，统一意志、形 成合力，共同推进各领域工作，努力实现良好开局。树立和践行正确政绩观，坚持为人民出政 绩、以实干出政绩。加强党组自身建设，认真履行全面从严治党主体责任，切实增强自我革命的 自觉性坚定性。 会议强调，新的一年里，中央书记处要深入贯彻党的二十大和二十届历次全会精神，认真落 实四中全会部署，围绕中央政治局、中央政治局常委会部署要求，立足职责抓好指导开展党内集 中教育、完善党内法规制度建设、群团组织建设和改革、持续整治形式主义为基层减负等重点任 务落实，高质量完成党中央交办的各项任务。 新华社北京1月8日 ...

点击上方蓝字 添加关注 中国i正劳监督管理委员会 CHINA SECURITIES REGULATORY COMMISSION and the state of 1 Sep 95 (2) 只 清 th 型 会议通报了综合惩防工作进展。2024年7月5日国务院办公厅转发中国证监会等部门《关于进一步做好资本市场财务造假综合 惩防工作的意见》（以下简称《综合惩防意见》）以来，各部门深入学习认真贯彻落实习近平总书记重要指示批示精神，加强法 治供给、加大对财务造假查处力度、合力惩治第三方配合造假、压实中介机构"看门人"责任，行政执法、刑事惩戒、民事追偿、 诚信约束有效衔接的全方位立体追责体系不断深化，常态化长效化惩防机制进一步健全。 2024年以来，证监会累计查办财务造假案件159起，做出行政处罚111起，罚没金额81亿元。会同相关部门坚持惩首恶和打帮 凶并重，对43起案件大股东和实控人严肃追究责任，对配合造假的第三方坚决以行政违法共犯方式严惩。持续强化立体化追责， 向公安机关移送涉嫌财务造假犯罪线索112件，支持金通灵、美尚生态、锦州港等案件受损投资者提起特别代表人诉讼。强化对中 介机构的责任追究。18家严重造假公司 ...

Group 1 - The core message emphasizes the importance of high-quality development and innovation as key drivers for future economic growth, particularly in the context of the Guangdong-Hong Kong-Macao Greater Bay Area [2][3] - The focus on technological innovation is highlighted, with a call for enhanced support for enterprises in terms of policies, funding, and talent to foster breakthroughs in emerging fields and core technologies [2][3] - The need for a robust industrial ecosystem is stressed, advocating for the cultivation of application scenarios and effective business models to accelerate the iteration and upgrade of new technologies such as robotics and drones [2][3] Group 2 - The development of transportation infrastructure, such as the Zhuhai-Middle Channel, is crucial for promoting connectivity and collaborative development within the Greater Bay Area [3] - The rising consumer demand driven by economic growth and improved living standards necessitates research into new consumption patterns and the acceleration of high-quality product development [3][4] - The importance of expanding high-level opening-up and integrating hard and soft connectivity in infrastructure and regulatory standards is emphasized to enhance trade and logistics, particularly in cross-border e-commerce [3][4]

Core Viewpoint - The State Council meeting led by Premier Li Qiang emphasized the importance of national water network construction, cross-border trade facilitation, and the revision of key regulations in water supply and drug management to enhance economic growth and public welfare [2][3][4]. National Water Network Construction - The national water network is being progressively improved, with significant advancements in key water transport channels and storage points, which are crucial for optimizing water resource allocation and enhancing flood prevention capabilities [3]. - The construction of the national water network is seen as a strategic measure to ensure national water security and has multiple benefits, including transportation, ecological protection, and tourism [3]. - The government aims to innovate financing mechanisms to attract investments from state-owned enterprises and private capital, ensuring the successful implementation of water network projects [3]. Cross-Border Trade Facilitation - Cross-border trade facilitation is identified as a key component for creating a top-tier business environment, focusing on efficient logistics and multi-modal transport coordination [4]. - The meeting highlighted the need to promote green trade and the development of new business models such as cross-border e-commerce, while optimizing the regulation of special goods [4]. - Enhancements in smart regulatory services and the construction of smart customs and ports are prioritized to ensure efficient and secure trade processes [4]. Water Supply Management - Water supply is recognized as a vital public service, necessitating a coordinated approach to urban and rural water supply development [4]. - The focus is on establishing a comprehensive regulatory system from water sources to end-users, ensuring water quality and safety through updated infrastructure and maintenance [4]. - Water supply units are urged to adhere strictly to regulations and improve operational standards to enhance service quality and emergency management capabilities [4]. Drug Management Regulation - The meeting underscored the importance of timely revisions to drug management laws to ensure public safety and promote a healthy pharmaceutical industry [4]. - There is a push to improve drug research and registration systems, accelerating the approval of breakthrough therapies to stimulate industry innovation [4]. - A strong regulatory framework is to be maintained to oversee the entire drug supply chain, with strict actions against illegal activities in the pharmaceutical sector [4].

Core Viewpoint - The recent court rulings on securities fraud cases, such as the Jin Tong Ling and Jinzhou Port cases, highlight the effectiveness of the special representative litigation system in protecting investors' rights and maintaining market order [2][3]. Group 1: Special Representative Litigation - The Jin Tong Ling case marks another significant ruling under the special representative litigation procedure, following the Kangmei Pharmaceutical and Zeda Yisheng cases, demonstrating the system's role in collective low-cost protection of investors' rights [2]. - The special representative litigation system serves as an important legal mechanism for deterring potential violations in the securities market through coordinated governance between regulatory and judicial bodies [2]. Group 2: Investor Protection Initiatives - The Jinzhou Port case involved serious securities violations that disrupted market order, leading to administrative penalties by the China Securities Regulatory Commission (CSRC) and the acceptance of investor lawsuits under the special representative litigation procedure [2]. - The CSRC supports the China Securities Investor Service Center in fulfilling its role in representing investors in civil litigation, thereby enhancing the protection of investors' rights and promoting a healthy market environment [3]. Group 3: Advance Compensation Mechanism - The establishment of a special fund for advance compensation by Wenkong Securities for the Guangdao Digital case is a part of the diversified resolution mechanism for securities disputes as stipulated by the Securities Law [4]. - The China Securities Investor Protection Fund plays a crucial role in managing the fund and facilitating the advance compensation process, which aims to resolve market disputes efficiently and protect investors' rights [4].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has revised the "Regulations on the Management of Sales Fees for Publicly Offered Securities Investment Funds" to lower investor costs and enhance market order, effective from January 1, 2026 [2][3]. Summary by Sections Key Changes in Regulations - The regulations will reduce subscription fees and sales service fee rates for publicly offered funds to lower investor costs [2]. - Redemption fee arrangements will be simplified, with all redemption fees being included in the fund's assets [2]. - No sales service fees will be charged for fund shares held for over one year (excluding money market funds), encouraging long-term holding [2]. - A cap on the payment ratio of customer maintenance fees will be established to promote the development of equity funds [2]. - The regulations will strengthen the norms around sales fees, ensuring that interest from fund sales settlement funds belongs to investors and prohibiting double charging in fund advisory services [2]. - A direct sales service platform for institutional investors in the fund industry will be established to facilitate efficient and secure direct sales by fund managers [2]. Implementation and Feedback - The CSRC has solicited public opinions on the regulations and has made modifications based on feedback, indicating broad support for the direction and content of the revisions [2]. - The CSRC will prioritize investor interests in the implementation of the regulations and will steadily work to reduce costs for fund investors [3].

Core Viewpoint - The article emphasizes the achievements and progress made during the "14th Five-Year Plan" period, highlighting China's economic growth, technological advancements, and cultural developments as the nation prepares for the "15th Five-Year Plan" [2][3][5]. Economic Growth - China's GDP is projected to reach 140 trillion yuan in 2025, marking a significant milestone in economic strength and comprehensive national power [2][3]. - The country has successfully navigated challenges and completed its goals, showcasing resilience and determination in its economic journey [2][3]. Technological Advancements - There has been a notable integration of technology and industry, with rapid advancements in artificial intelligence and breakthroughs in chip development, positioning China as one of the fastest-growing economies in terms of innovation [3][4]. - Major projects such as the Tianwen-2 Mars mission and the construction of the first electromagnetic aircraft carrier are highlighted as examples of China's technological progress [3][4]. Cultural Development - The article notes a growing interest in cultural heritage and tourism, with traditional Chinese culture gaining popularity among younger generations, contributing to a vibrant cultural landscape [3][4]. - Events celebrating historical milestones, such as the 80th anniversary of the victory in the Anti-Japanese War, have fostered national pride and unity [3][4]. Social Welfare - The government has implemented measures to enhance the rights of new employment groups and provide financial support to families, reflecting a commitment to improving the quality of life for citizens [4][5]. - Initiatives such as subsidies for childcare and elderly care are aimed at addressing the needs of various demographics, ensuring a more inclusive society [4][5]. Global Engagement - China continues to engage with the international community through initiatives like the Shanghai Cooperation Organization summit and the Hainan Free Trade Port, promoting global cooperation and governance [4][5]. - The country expresses a commitment to peace and development, advocating for a shared future and collaboration with other nations [4][5]. Future Outlook - The article sets a forward-looking tone for 2026, emphasizing the need for high-quality development and comprehensive reforms as China embarks on the "15th Five-Year Plan" [5]. - There is a call for collective effort and determination to turn ambitious visions into reality, encouraging a spirit of perseverance and hard work among the populace [5].

下一步，中国证监会将做好行政执法当事人承诺制度实施工作，进一步发挥行政 执法当事人承诺制度在保护投资者合法权益、维护市场秩序、提高行政执法效能等方 面的积极作用。 为贯彻落实中央金融工作会议精神和新"国九条"关于完善行政执法当事人承诺制 度的要求，进一步明确行政执法当事人承诺受理条件，规范办理程序，中国证监会对 《证券期货行政执法当事人承诺制度实施规定》进行修改完善，发布了《关于修改 〈证券期货行政执法当事人承诺制度实施规定〉的决定》（以下简称《决定》），自 2026年2月1日起施行。 《决定》的主要内容包括：一是完善受理条件。根据国务院《证券期货行政执法 当事人承诺制度实施办法》（以下简称《实施办法》）第七条第六项规定，《决定》 规定，有下列情形之一的，中国证监会对适用行政执法当事人承诺的申请不予受理： 当事人拒绝、阻碍中国证监会或其派出机构依法对其涉嫌违法行为进行调查；当事人 缺乏交纳承诺金的能力；当事人被列入证券期货市场严重失信主体名单且未修复；当 事人曾因涉嫌证券期货违法行为适用行政执法当事人承诺制度，自承诺认可协议履行 完毕之日起未逾1年；中国证监会基于审慎监管原则认为不适用行政执法当事人承诺制 度 ...