“愿意来、留得住”的市场氛围日益浓厚

Regulatory Environment - During the "14th Five-Year Plan" period, the securities regulatory authority has strengthened its enforcement capabilities, resulting in a significant increase in administrative penalties for financial fraud, market manipulation, and insider trading, with 2,214 cases and fines totaling 41.4 billion yuan, representing growth of 58% and 30% respectively compared to the previous five-year period [1][3][4] - The establishment of a comprehensive legal framework for the capital market has been emphasized, with the implementation of the new Securities Law and the introduction of various regulations, enhancing the legal basis for market activities and regulatory actions [2][4] Enforcement and Compliance - The China Securities Regulatory Commission (CSRC) has focused on improving the effectiveness of regulatory enforcement by utilizing advanced technologies such as artificial intelligence and big data to enhance monitoring and detection of hidden illegal activities [3][4] - Collaborative enforcement efforts have been strengthened through partnerships with the Supreme Court, Supreme Procuratorate, and the Ministry of Public Security, leading to improved efficiency in handling securities and futures violations [4][5] Investor Protection - Investor protection has been prioritized, with the CSRC implementing measures to safeguard the rights of small and medium investors, including the introduction of rules for share reduction, quantitative trading, and securities fraud compensation [6][7] - Significant cases supporting investor rights have been highlighted, such as the special representative litigation system that has successfully compensated thousands of investors in landmark cases [6][7] Market Confidence - The regulatory environment has contributed to a more stable and high-quality capital market, fostering a positive atmosphere for long-term and value investing, which has led to a growing number of individual and institutional investors [5][7]