加强资本市场重大问题研究，证监会明确12个选题方向

Group 1 - The China Securities Regulatory Commission (CSRC) released a notice on February 6 regarding the selection direction and application guidelines for provincial and ministerial-level research topics for 2026, focusing on enhancing the inclusiveness and adaptability of the capital market during the 14th Five-Year Plan period [1] - The CSRC identified 12 research topics, including improving the governance effectiveness of listed companies under the new Company Law, optimizing the structure of listed companies, and studying the binding mechanism between public funds and investor interests [1] - Other topics include innovations in pension financial investment mechanisms, regulatory research on accounting firms in the capital market, and the impact of AI technology on investor behavior and market regulation [1] Group 2 - The application for research topics is led by one or two units, with a requirement for diversity among participating units, and the leading unit must have the necessary talent and material conditions to complete the research [2] - The research period is generally set for 6 to 12 months, with a maximum extension of 6 months, and the CSRC has designated the China Securities Financial Research Institute as the management unit for these research projects [2] - The management unit is responsible for progress control, acceptance criteria, and ongoing tracking of the research quality and progress [2] Group 3 - The CSRC clarified that all research directions do not represent regulatory guidance but are intended for research reserves [3]