Core Viewpoint - The article emphasizes the importance of judicial and administrative collaboration to support the high-quality development of the capital market, highlighting the need for improved investor protection and regulatory frameworks [3][4]. Group 1: Overall Requirements - The guiding ideology is based on Xi Jinping's thoughts, focusing on the implementation of the 20th National Congress decisions regarding financial and capital market construction [4]. - The goal is to enhance the collaborative role of judicial adjudication and securities regulation, improving the judicial protection mechanism and regulatory capabilities [4][5]. Group 2: Investor Protection - There is a strong focus on protecting investor rights, particularly for small and medium investors, ensuring their rights to information, participation in governance, and fair market participation [5][8]. - The article calls for the establishment of a robust judicial environment for long-term investments, promoting a healthy market ecosystem [8][9]. Group 3: Judicial Rule Improvement - The need for continuous improvement of judicial rules to adapt to changing market conditions is highlighted, including the development of judicial interpretations for insider trading and market manipulation [6][10]. - The article stresses the importance of high-quality adjudication in enhancing the capital market's development [6][10]. Group 4: Regulatory Collaboration - The establishment of a multi-faceted dispute resolution mechanism is proposed to facilitate non-litigation methods for resolving securities disputes [21][22]. - Strengthening information sharing and collaboration between judicial and regulatory bodies is emphasized to enhance risk prevention and response capabilities [23][24]. Group 5: Market Participant Regulation - The article outlines the need for strict regulation of securities, futures, and fund management institutions to ensure their stable operation and protect investor interests [15][16]. - It emphasizes the importance of adhering to appropriate management responsibilities and ensuring compliance with legal standards in financial transactions [15][16]. Group 6: Enhancing Judicial and Regulatory Capacity - The article calls for strengthening the training and professional development of financial judges and regulatory personnel to improve their understanding of financial markets and legal frameworks [26]. - It highlights the importance of maintaining a clean and accountable judicial and regulatory environment to ensure fair enforcement of laws [26].

Core Viewpoint - The Supreme Court and the China Securities Regulatory Commission jointly issued guidelines to enhance the quality of listed companies, emphasizing the importance of legal enforcement and judicial services in promoting high-quality development of the capital market [1] Group 1: Legal Enforcement and Company Quality - The guidelines stress that improving the quality of listed companies is crucial for the high-quality development of the capital market [1] - Legal actions will target capital violations, including hidden shareholding and illegal wealth creation practices [1] - Information disclosure by issuers regarding shareholders and actual controllers must be truthful, accurate, and complete [1] Group 2: Governance and Shareholder Rights - Courts are instructed to invalidate illegal agreements related to shareholding and benefit transfer, distributing responsibility based on fault [1] - The guidelines support shareholders in exercising their rights and clarify the reasonable boundaries for the board's review of shareholder proposals [1] - There is a push for standardized corporate governance practices [1] Group 3: Mergers, Acquisitions, and Bankruptcy - The guidelines advocate for legal support in mergers and acquisitions, declaring any anti-takeover provisions in company charters that violate laws to be invalid [1] - Investors can file civil compensation lawsuits for losses caused by false statements related to delisting [1] - The guidelines promote careful handling of bankruptcy reorganization cases to improve operational capabilities and resolve debt crises sustainably [1]

Core Viewpoint - The Supreme People's Court and the China Securities Regulatory Commission have jointly issued guidelines aimed at enhancing investor protection and reducing the costs associated with investor rights protection in the capital market [1] Group 1: Investor Protection - The guidelines focus on protecting investors and emphasize the importance of a people-centered approach [1] - There is a commitment to legally combat fraudulent issuance and financial information disclosure violations, as well as to improve the civil compensation responsibility system for false statements [1] - The implementation of representative litigation for securities disputes will be normalized to facilitate investors in safeguarding their legal rights [1] Group 2: Market Regulation - The guidelines aim to standardize market participant behavior and foster a healthy market ecosystem [1] - There is a push for securities, futures, and fund management institutions to return to their core functions and operate in a stable manner [1] - The guidelines also seek to enhance the judicial rules of the multi-tiered capital market and support industry self-regulatory organizations in fulfilling their legal responsibilities [1] Group 3: Capital Market Stability - The initiative is designed to ensure a high-level institutional opening of the capital market and to purify the market ecology [1] - It aims to prevent and mitigate risks within the capital market [1]

Core Viewpoint - The article discusses the release of the "Guiding Opinions on Strict and Fair Law Enforcement to Support the High-Quality Development of the Capital Market" by the Supreme People's Court and the China Securities Regulatory Commission, which aims to enhance judicial policies and improve the quality of capital market governance [1][2]. Summary by Sections Judicial Policy and Regulation - The "Guiding Opinions" serve as a comprehensive document to improve judicial policies and regulations in the capital market, focusing on enhancing the effectiveness of judicial and regulatory oversight [1][2]. Investor Protection - Emphasis is placed on protecting investors by combating fraudulent issuance and financial information disclosure violations, and improving the civil compensation system for false statements. Regular representative litigation for securities disputes will be conducted to facilitate investors in safeguarding their rights and reduce the costs of legal action [2]. Market Participant Regulation - The document aims to regulate the behavior of market participants to create a healthy market environment. It encourages securities, futures, and fund management institutions to operate prudently and supports self-regulatory organizations in fulfilling their responsibilities [2]. Judicial and Administrative Coordination - The opinions stress the importance of judicial and administrative collaboration, promoting a diversified dispute resolution mechanism and enhancing the connection between judicial procedures and administrative regulatory processes [2]. Organizational Support - There is a focus on improving the capabilities of judicial and regulatory bodies, including strengthening the financial trial team and optimizing the jurisdiction and trial mechanisms for financial cases [2]. Implementation and Future Steps - The Supreme People's Court and the China Securities Regulatory Commission will work together to implement the "Guiding Opinions," aiming to solidify the institutional foundation for judicial support in the capital market and enhance the coordination between judicial and regulatory efforts [3][4].

最高人民法院、中国证监会联合发布《关于严格公正执法司法 服务保障资本市场高质量发展的指导意 见》。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) is committed to enhancing investor protection and building trust in the capital market through collaborative efforts and the introduction of new regulations and guidelines [4][6][10]. Group 1: Institutional Rules and Guidelines - The Supreme People's Court and CSRC will jointly issue the "Guiding Opinions on Strict and Fair Law Enforcement and Judicial Services to Ensure High-Quality Development of the Capital Market," which serves as a foundational document for judicial support in capital market development [4][10]. - CSRC will release the "Regulations on the Supervision of Funds Raised by Listed Companies" and related self-regulatory organization rules, focusing on investor protection [4]. - A comprehensive overview of CSRC's enforcement actions in 2024 will be published, alongside various investor protection educational activities across the country [4]. Group 2: Enhancing Investor Rights Protection - CSRC has implemented a series of policies to support market stability and investor rights protection, aligning with national financial strategies and recent political directives [6][7]. - The focus is on establishing a solid foundation for investor rights protection through high-quality capital market development, which includes promoting cash dividends and share buybacks by listed companies [7][9]. Group 3: Legal Framework and Institutional Improvements - The legal framework for capital markets is being strengthened through the revision of key laws and regulations, including the Securities Investment Fund Law and regulations governing listed companies [8][10]. - CSRC is actively involved in drafting judicial interpretations related to insider trading and market manipulation, enhancing the legal safety net for investors [8]. Group 4: High-Quality Development of Securities and Fund Institutions - CSRC has introduced the "Action Plan for Promoting High-Quality Development of Public Funds," aiming to align fund companies' interests with those of investors and improve product offerings [11]. - There is a focus on enhancing the governance and compliance capabilities of securities firms to better serve investors [11]. Group 5: Strict Enforcement Against Violations - CSRC is committed to a rigorous enforcement approach against securities violations, including financial fraud and insider trading, to protect investor interests [12]. - The agency aims to establish a comprehensive system for preventing and punishing financial fraud, with a focus on holding accountable those responsible for such actions [12]. Group 6: Supporting Investor Rights and Dispute Resolution - CSRC is working to establish a normalized mechanism for representative litigation to support investors in securities disputes, alongside promoting mediation as a means of conflict resolution [13]. - The agency emphasizes the importance of collaboration with judicial bodies to facilitate effective legal remedies for investors [13].

Core Viewpoint - The article emphasizes the importance of protecting investors, particularly small and medium-sized investors, as a core task of the China Securities Regulatory Commission (CSRC) and highlights ongoing efforts to enhance investor protection mechanisms and promote high-quality development in the capital market [1][2]. Group 1: High-Quality Development of Capital Market - The CSRC is committed to promoting high-quality development in the capital market as a foundation for effective investor protection, implementing a new round of reforms, and enhancing policies to support technology innovation and new productive forces [2]. - In the recent annual report disclosures, over 70% of more than 5,400 listed companies announced dividends totaling 2.39 trillion yuan, setting a new historical record [2]. Group 2: Improvement of Investor Protection Mechanisms - The legal framework is crucial for investor protection, and the CSRC is actively involved in drafting financial laws and revising regulations to strengthen the legal basis for protecting investor rights [3][4]. - A new mechanism for reviewing major policy regulations concerning small and medium-sized investors has been established to ensure transparency and fairness in rule-making [4]. Group 3: Development of Securities and Fund Institutions - The CSRC has released an action plan to promote the high-quality development of public funds, aiming to align the interests of fund companies with those of investors and enhance the quality of investor services [4]. - There is a focus on improving the governance and compliance capabilities of securities companies and sales institutions to better serve investors [4]. Group 4: Strict Enforcement Against Violations - The CSRC is committed to a rigorous regulatory approach, enhancing the standardization of enforcement and precision in punishing violations, particularly in cases of financial fraud and insider trading [5]. - Efforts are being made to combat illegal activities that harm small and medium-sized investors, including illegal stock recommendations and unauthorized agency rights protection [5]. Group 5: Support for Investor Rights Protection - The CSRC is working to establish a mechanism for representative litigation to facilitate collective dispute resolution for investors, in collaboration with judicial authorities [6][7]. - There is an emphasis on providing legal assistance to small and medium-sized investors to resolve conflicts and maintain market stability [7]. Group 6: Ongoing Commitment to Investor Protection - The CSRC recognizes investor protection as a long-term and systematic task, pledging to continue enhancing the effectiveness of investor protection measures and building consensus among various stakeholders [8].

Core Viewpoint - The importance of investor protection, especially for small and medium investors, is increasingly highlighted as a key theme for the stability and vitality of the capital market, with a focus on implementing the new "National Nine Articles" to strengthen the investor protection mechanism [1][2]. Regulatory Framework - The regulatory framework has been continuously improved, with new laws such as the Securities Law and the Criminal Law Amendment (12) establishing a comprehensive accountability system [2]. - The "National Nine Articles" and its accompanying "1+N" policy system enforce strict listing regulations and optimize delisting mechanisms, embodying the principle of finance serving the public [2]. Enforcement and Legal Mechanisms - The effectiveness of law enforcement has been enhanced, with an increasing number of administrative penalty cases by the China Securities Regulatory Commission (CSRC), reflecting a more stringent regulatory approach [3]. - Investor protection channels have become more accessible, with mechanisms like advance compensation and representative litigation reducing the cost of rights protection for investors [3]. Accountability and Legal Framework - There is a need to solidify the legal foundation and improve the "multi-dimensional accountability" system, including normalizing collective lawsuits and enhancing the penalties for insider trading and market manipulation [3]. - The CSRC and other departments are set to issue guidelines to increase the application of property penalties and control the use of probation, significantly enhancing deterrence against violations [3]. Quality Control and Market Entry - The responsibility for quality control of listed companies must be enforced throughout the entire process, from entry to exit, ensuring strict oversight of IPOs and the use of raised funds [4]. - A robust delisting mechanism should be maintained to eliminate "zombie companies" and ensure investor compensation during the delisting process [4]. Role of Intermediaries - Intermediaries must be held accountable for their diligence and responsibilities, with strict penalties for those failing to meet their obligations [4]. - The focus should be on enhancing the independence, professionalism, and quality of service of intermediaries to effectively fulfill their role as gatekeepers [4]. Investor Education and Long-term Protection - Investor education is crucial for building a comprehensive protection framework, necessitating widespread educational activities and a multi-tiered education system [5]. - The capital market is transitioning from a financing-oriented approach to an investment-oriented one, emphasizing the embedding of investor rights protection in every market operation aspect [5].

5月14日，2025年福建辖区上市公司投资者网上集体接待日在福州圆满落幕。本次活动由福建证监局指 导，福建省上市公司协会主办，全景网承办，全景路演对活动全程直播。 2025年，福建证监局以推动资本市场高质量发展为核心目标，围绕深化制度改革、服务实体经济、防控 金融风险等重点方向，多维度强化监管效能。 在制度建设方面，持续落实注册制改革要求，优化全流程监管服务，强化信息披露精准性和差异化，引 导上市公司提升治理水平与合规意识；同时聚焦科技创新与产业升级，通过政策引导与资源整合，支持 地方优势产业对接资本市场，助力传统企业转型升级与新兴领域加速孵化。在绿色转型领域，完善绿色 金融支持体系，推动企业环境社会治理（ESG）实践与信息披露规范化，探索创新性融资工具以服务低 碳经济发展。风险防控方面，加强重点领域动态监测，完善风险预警与处置机制，从严打击违法违规行 为，畅通市场退出渠道，维护投资者合法权益。立足区域特色，促进数字经济、海洋经济与资本深度融 合，并依托科技赋能构建智能化监管体系，提升数据分析与风险预判能力，为福建经济高质量发展提供 坚实的资本市场支撑。 2024年度，福建辖区105家上市公司实现营业总收入1 ...

Core Viewpoint - The seventh "5.15-5.19 Investor Protection Awareness Week" will be launched on May 15, focusing on enhancing investor protection and awareness in the Chinese capital market [1][2] Group 1: Event Overview - The theme for this year's event is "Practicing 'Three Investments' and Strengthening 'Two Preventions'" [1] - The event will take place in Beijing, Shenzhen, and Shanghai, involving regulatory bodies, industry associations, intermediaries, and listed companies [1] - Activities will include expert discussions on ETF investment topics [1] Group 2: Investor Protection Report - The "China Capital Market Investor Protection Report (2025)" will be released, covering six key areas related to investor protection progress [1] - The report will address the comprehensive roadmap for high-quality development in the capital market, legal system construction, and the importance of regulatory responsibilities [1][2] Group 3: Regulatory and Policy Context - Recent policies, including the new "National Nine Articles" and company law revisions, emphasize a people-centered approach to investor protection [2] - The China Securities Regulatory Commission (CSRC) aims to enhance regulatory enforcement and investor protection levels [2] - The event aims to create a safe, transparent, and resilient capital market, making small and medium investors key partners in high-quality market development [2]