中国证监会印发《推动公募基金高质量发展行动方案》

Core Viewpoint - The article discusses the recent action plan issued by the China Securities Regulatory Commission (CSRC) aimed at promoting the high-quality development of public funds, emphasizing the importance of investor interests and regulatory measures to shift the industry focus from scale to returns [1][2]. Group 1: Key Measures for Fund Development - The action plan includes 25 measures to address market and social concerns, focusing on transforming the industry towards high-quality development [1]. - A new fee structure for actively managed equity funds will be implemented, linking management fees to fund performance, with lower fees for underperforming funds [1]. - A comprehensive evaluation system will be established for fund companies, prioritizing investment returns over management scale and profits [2]. Group 2: Enhancing Investor Services - Fund companies and sales institutions are encouraged to optimize resources for better investment research, product design, and risk management, promoting long-term and value investing [2]. - Regulations for public fund investment advisory services will be introduced to provide tailored investment solutions for investors [2]. - A direct sales platform for institutional investors will be launched to facilitate their participation in fund investments [2]. Group 3: Stability and Innovation in Fund Investments - The plan aims to increase the scale and stability of equity investments by optimizing fund registration and promoting innovative products [3]. - A three-year performance evaluation cycle will be implemented to enhance the stability of fund investment behaviors [4]. Group 4: Regulatory Enhancements - The action plan emphasizes strong regulation and risk prevention, enhancing governance levels within fund companies and improving compliance standards [4]. - A multi-layered liquidity risk prevention mechanism will be established to ensure the industry's reputation and stability [4]. - The CSRC will continue to implement policies that support wealth management, capital market reforms, and the real economy [4].