北京师范大学经济与工商管理学院副院长、教授胡聪慧：加快完善中国特色资本市场投资者服务体系

Core Viewpoint - The article emphasizes the need for optimizing and enhancing the investor service system in China's capital market, particularly in light of the ongoing reforms and the increasing diversity of the investor base [1]. Group 1: Capital Market Reforms - The 20th Central Committee of the Communist Party of China has called for accelerating the construction of a high-level socialist market economy [1]. - The China Securities Regulatory Commission (CSRC) is actively promoting institutional reforms and innovative mechanisms to protect small and medium investors [1]. - The CSRC's opinions released in October 2025 outline the overall approach and policy measures for protecting small and medium investors [1]. Group 2: Integration of Technology and Investment Advisory - The integration of digital intelligence technology with investment advisory services is seen as a key driver for transforming the capital market service system [2]. - New generation digital intelligence technologies, such as large models and data-driven approaches, are reshaping the underlying logic of investment advisory services [2]. - Since the pilot program began in 2020, investment advisory services have evolved from a marginal innovation to a mainstream service, with significant improvements in service efficiency [2]. Group 3: Systematic Approach to Investor Services - A multi-dimensional approach is necessary to enhance investor service levels, focusing on institutional supply, technical support, and ecological construction [3]. - There is a need for a differentiated and systematic investor education program that is tailored to various groups and scenarios [3]. - Financial institutions should be encouraged to fulfill their "accompaniment" education responsibilities, integrating interactive training and educational tools into their service processes [3]. Group 4: Strengthening Investor Protection - Recommendations include improving compliance supervision in the sales process and implementing mechanisms to optimize investor behavior, such as cooling-off periods and risk assessment thresholds [4]. - The establishment of a multi-faceted dispute resolution mechanism is essential to enhance the efficiency of legal remedies for investors [4]. - Enhancing investor service levels is crucial for building confidence in wealth management among residents and solidifying the institutional foundation for the capital market's role in China's modernization [4].