巩固市场稳中向好势头，坚决防止市场大起大落！证监会，最新部署→

Core Viewpoint - The China Securities Regulatory Commission (CSRC) held a system work meeting to summarize 2025's work, analyze the current situation, and plan for 2026, emphasizing the importance of risk prevention, strong regulation, and promoting high-quality development in the capital market [2][3]. Summary by Sections 2025 Work Summary - The CSRC adhered to Xi Jinping's thoughts, implementing the central government's decisions, and made significant progress in stabilizing the market and enhancing resilience and vitality despite multiple risks [3]. - Key achievements included: - Establishing a risk prevention mechanism, with significant breakthroughs in attracting medium- and long-term funds, leading to a market recovery [3]. - Strengthening regulatory measures, with 701 cases of securities and futures violations investigated, resulting in fines totaling 15.47 billion yuan [3]. - Promoting comprehensive reforms in investment and financing, with cash dividends and buybacks from listed companies totaling 2.68 trillion yuan [3]. - Enhancing the product and service system for stocks, bonds, and futures, with IPOs and refinancing totaling 1.26 trillion yuan and bond issuances reaching 16.3 trillion yuan [3]. Current Challenges and Future Directions - The meeting acknowledged the overall stability of the capital market but highlighted ongoing internal and external risks [4]. - The CSRC aims to deepen reforms, improve regulatory effectiveness, and enhance market stability while supporting employment and business [4]. Key Strategies for 2026 - Emphasizing stability, the CSRC plans to strengthen market monitoring and regulation to prevent excessive volatility and promote long-term investments [5]. - The focus will be on reforming the equity market, enhancing the bond market, and improving the regulatory framework for private equity funds [6]. - The CSRC will also work on enhancing corporate governance and promoting the growth of listed companies [6]. - Efforts will be made to deepen the opening of the capital market and improve cross-border investment facilitation [7]. Governance and Oversight - The meeting stressed the importance of strengthening party leadership and enhancing the accountability of the CSRC in combating corruption and improving governance [8].