吴清：过去五年证监会统筹发展与安全，筑牢监管防线，严守风险底线

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of maintaining market stability, reducing risks in key areas, enhancing regulatory effectiveness, and protecting investors' rights during a recent press conference. Group 1: Market Stability - The CSRC has focused on maintaining stable market operations by implementing early warning systems and enhancing cross-market risk prevention mechanisms, which have improved investor confidence and market expectations [1] - The bond default rate in the exchange market has been kept at a low level of around 1%, indicating effective risk control measures [1] Group 2: Risk Management - The CSRC has successfully cleared approximately 7,000 zombie institutions in the private equity sector and has effectively curtailed the risks associated with "pseudo-private equity" [1] - All 27 identified "pseudo-gold exchanges" have had their qualifications revoked, and hundreds of similar institutions have been cleaned up [1] Group 3: Regulatory Enforcement - The CSRC has significantly enhanced the effectiveness and deterrence of regulatory enforcement, focusing on financial fraud and establishing a comprehensive punishment and prevention system [2] - Notable penalties have been imposed, including a record fine of 4.175 billion yuan on Evergrande and 325 million yuan on its auditing firm for financial fraud [2] Group 4: Investor Protection - The CSRC has improved investor protection mechanisms by refining regulations related to share reductions, quantitative trading, and short selling, and has established a robust compensation system for investors [3] - Landmark cases have resulted in significant compensation for investors, including approximately 2.46 billion yuan for the Kangmei Pharmaceutical case and 1.09 billion yuan for the Zijing Storage case [3]