市场监管总局有关司局负责人表示，截至2023年，各类网络拍卖活动的年成交规模已超万亿元，成 为非标资产交易的重要方式，在盘活存量资产、提高要素配置效率、完善现代流通体系等方面作用明 显，对稳增长、促消费、扩就业有积极影响。但是，由于《中华人民共和国拍卖法》《拍卖管理办法》 《拍卖监督管理办法》《文物拍卖管理办法》等制定时间较早，未对网络拍卖作出明确规定。部分主体 资质不合规、业务开展不规范、监管制度不完善、诚信体系待加强等问题日渐突出。 《指导意见》明确提出坚持拍卖监管制度的一致性，网络拍卖应当遵守拍卖法律法规，网络拍卖平 台经营者要履行拍卖许可、文物拍卖资质核验等主体责任。同时，还提出鼓励网络拍卖市场创新发展， 推动建立相关部门间信息共享、执法联动工作机制，加强部门协作，加强监管政策统筹协调等具体意 见。 央广网北京5月22日消息（记者 邵蓝洁）"现场与网络同步拍卖""直播拍卖""网络竞价"等新形式、 新业态不断出现，如何对网络拍卖新形式进行有效监管备受关注。央广网记者从市场监管总局获悉，年 成交规模超万亿元的网络拍卖领域迎来了第一个规范性文件。 近日，市场监管总局、商务部、国家文物局三部门联合印发《关于促 ...

Core Viewpoint - ST Qibu has been collectively sued, involving multiple senior executives, indicating serious issues within the company that may lead to criminal penalties for the responsible parties [2][3][5]. Group 1: Legal Issues - ST Qibu and its key personnel face three charges: fraudulently issuing securities, violating disclosure regulations, and failing to disclose important information [3][6]. - The company has previously been penalized for illegal activities, including a fine of 77 million yuan due to financial fraud and misleading information in bond issuance [4][8]. - The lawsuit marks the second phase of severe penalties following an investigation by the China Securities Regulatory Commission (CSRC) in 2022 for similar violations [3][4]. Group 2: Financial Misconduct - From 2018 to 2020, ST Qibu inflated its revenue by 360 million yuan and profits by 129 million yuan through fictitious transactions [7]. - The company issued convertible bonds worth 520 million yuan based on inflated financial data, leading to accusations of fraudulent issuance [7][8]. - The inflated profits represented 10.39% and 14.57% of the reported profits for 2018 and the first half of 2019, respectively [7]. Group 3: Ongoing Financial Struggles - ST Qibu has been experiencing continuous losses since 2020, with losses exceeding 1 billion yuan annually, peaking at 656 million yuan in 2023 [16][17]. - The company forecasts further losses of 30 to 45 million yuan for the first half of 2025, bringing total losses since 2020 to approximately 1.777 billion yuan [16][17]. - Despite attempts to pivot to live e-commerce with a strategic partnership, the results have not met expectations, contributing to ongoing financial decline [16][17].

Core Viewpoint - The newly implemented "Regulations on the Appropriateness Management of Financial Institution Products" (referred to as "Regulation No. 7") aims to enhance the transparency and integrity of financial product sales, particularly those with uncertain returns and potential principal loss, by prohibiting misleading practices in product promotion and sales [1][4][5]. Group 1: Overview of Regulation No. 7 - Regulation No. 7 was officially released after a three-and-a-half-month consultation period, introducing stricter guidelines for financial institutions regarding the promotion and sale of investment products [1][2]. - The regulation specifically targets investment-type products, including asset management products and other financial products, which are primarily regulated by the former China Banking and Insurance Regulatory Commission [2][3]. Group 2: Prohibited Practices - Financial institutions are now prohibited from misleading or inducing customers to purchase products through performance manipulation or improper presentation [4][6]. - The regulation addresses practices such as obscuring product nature, confusing product categories, exaggerating product advantages, and selectively displaying performance data [6]. Group 3: Performance Disclosure and Management - The regulation emphasizes the need for clear performance disclosure, aligning with previous guidelines issued by the National Financial Regulatory Administration regarding asset management product information disclosure [7][8]. - The phenomenon of "new product ranking," where newly launched financial products exhibit inflated returns to attract investors, is highlighted as a concern that the regulation aims to mitigate [9]. Group 4: Investor Classification and Risk Assessment - Regulation No. 7 mandates the classification of investment products by risk level and requires an assessment of investors' risk tolerance, distinguishing between professional and ordinary investors [10][14]. - The regulation specifies that only products rated below an investor's risk level can be purchased, ensuring that investments align with the investor's risk capacity [14][15]. Group 5: Special Considerations for High-Age Clients - Financial institutions are required to exercise special care when dealing with clients aged 65 and above, implementing stricter operational procedures for high-risk product sales [18][19]. Group 6: Risk Assessment Frequency and Validity - The regulation standardizes the validity period for risk tolerance assessments to twelve months, limiting the frequency of assessments to prevent excessive evaluations aimed at selling high-risk products [20].

7月11日，交易商协会发布公告称，对6家主承销商启动自律调查。 交易商协会提到，监测到在广发银行2025—2026年度二级资本债券项目中，中国银河证券、广发证券、兴业银 行、国泰海通证券、中信建投证券、中信证券等6家主承销商中标承销费引发市场关注。 据广发银行供应商服务平台信息，上述6家金融机构中标广发银行债券承销服务，承销服务费总额为人民币 63448元。采购结果详情显示，中国银河证券和兴业银行中选含税预估服务费仅有700元，最高者如中信建投， 中选含税预估服务费也不超过3.5万元。 6家机构分食6.34万元承销费 6月16日，广发银行发布采购公告，拟通过采购选定最高不超过6家中选供应商，由其为采购人提供2025—2026 年二级资本债券承销服务。要求2022年1月1日（含）至今，供应商具备普通金融债券或资本类债券（无固定期 限资本债券或二级资本债券）类似项目的发行承销案例，且每个案例须具备业绩相关证明材料。此外，该采购 项目不接受联合体报价。 广发银行未公开披露2025—2026年度二级资本债券发行规模的有关计划，不过可以以2024—2025年度的情况作 为参考。广发银行2024年年度报告显示，该行202 ...

Group 1 - The core viewpoint emphasizes the importance of advancing the standardization of law enforcement within the public security system, highlighting the need for strict, standardized, fair, and civilized law enforcement as per directives from General Secretary Xi Jinping [2] - The inspection revealed both achievements and areas for improvement in the law enforcement standardization efforts of the public security agencies [2] - The focus is on enhancing the modernization of public security work to better fulfill responsibilities in maintaining national security, combating crime, and serving the public [2] Group 2 - Key tasks include strengthening law enforcement education, improving systems and capabilities, and deepening the construction of "smart rule of law" [2] - There is a call for creating a positive atmosphere for law enforcement standardization, emphasizing responsibility, supervision, and public awareness [2] - The aim is to contribute to high-quality development of the rule of law in Suzhou and the practice of Chinese-style modernization [2]

Core Viewpoint - The new national standard for passenger car braking systems, effective from January 1, 2026, aims to enhance safety and standardize the use of single-pedal driving mode, which has been a topic of debate in the automotive industry since its inception [1][2][3]. Group 1: New National Standard Details - The new standard, GB21670-2025, is the first major update since 2008 and regulates the single-pedal mode, stating that vehicles must not decelerate to a stop solely by releasing the accelerator pedal [1]. - The standard specifies that if a regenerative braking system has multiple operating states, it must revert to a default state upon powering on, with a maximum deceleration of 3 m/s² in default mode [2]. - Manufacturers are required to inform users about the settings for the operating states through user manuals or electronic records, and visual signals must be provided when the braking force exceeds 1.3 m/s² [2]. Group 2: Industry Implications - The introduction of the new standard is seen as a safety measure that guides the safe use of single-pedal mode and encourages innovation within reasonable limits [2]. - The standard aims to unify the functionality, activation conditions, and user prompts for single-pedal mode, addressing inconsistencies that could affect driving safety and user experience [4]. - The standardization may lead to increased cost pressures for component suppliers, as automakers may push for lower prices, intensifying competition and potentially accelerating industry consolidation [6].

Core Viewpoint - The National Financial Regulatory Administration has issued the "Measures for the Appropriateness Management of Financial Institution Products," which imposes strict regulations on the sale of private equity products by financial institutions, emphasizing the need for non-public sales and proper investor assessment [1] Group 1 - Financial institutions are required to establish clear standards for identifying private equity investors based on relevant laws and regulations [1] - Institutions must evaluate investors' asset scale, income level, investment experience, and risk tolerance in an effective manner [1] - The sale of private equity products must be conducted in a non-public manner, prohibiting the use of public media or financial institution channels for promotion [1]

智通财经7月11日电，交易商协会前期发布《关于加强银行间债券市场发行承销规范的通知》（中市协 发〔2025〕114号），进一步强化对低价承销费、低价包销等不合规行为的自律管理。协会监测到，在 广发银行2025-2026年度二级资本债券项目中，中国银河证券股份有限公司、广发证券股份有限公司、 兴业银行股份有限公司、国泰海通证券股份有限公司、中信建投证券股份有限公司、中信证券股份有限 公司等6家主承销商中标承销费引发市场关注。依据《银行间债券市场自律处分规则》，交易商协会对 相关机构启动自律调查。若相关方在业务开展过程中存在违反自律规则的情况，将依据有关规定予以自 律处理。 交易商协会对6家主承销商启动自律调查 ...

Core Points - The Chinese Association for Science and Technology (CAST) has introduced new regulations aimed at curbing the negative trends in activities organized by scientific societies, emphasizing the need for a clean and credible academic environment [1][2] - The new rules prohibit excessive award ceremonies, superficial events, and the use of academic gatherings for profit, aiming to restore the integrity and purpose of scientific societies [1][2] - The regulations are part of a broader effort to enhance the academic atmosphere and ensure that scientific innovation remains the focus of research activities [1][2] Summary by Sections - **Regulations Overview** - CAST has released nine new rules targeting the misconduct in scientific society activities, which have increasingly become platforms for personal gain rather than genuine academic exchange [1] - The regulations include prohibitions on excessive awards, superficial events, and the misuse of academic gatherings for profit [1][2] - **Need for a Clean Academic Environment** - A clean and credible academic environment is essential for the construction of a strong scientific nation, as evidenced by major technological advancements in China [1] - The focus should return to genuine research and innovation, allowing scientific societies to serve as incubators for innovative ideas and platforms for academic exchange [1][2] - **Implementation and Accountability** - There is a call for a long-term regulatory mechanism to ensure the enforcement of these new rules, with an emphasis on accountability for both regulatory bodies and scientific organizations [2] - The approach includes a "zero tolerance" policy towards academic misconduct, with strict penalties for violations to maintain the integrity of the scientific community [2]

智通财经7月11日电，中证协发布《中国证券业协会关于加强自律管理 推动证券业高质量发展的实施意 见》，新规提到，将适应新质生产力企业上市需求，研究完善发行承销自律规则，进一步细化明确上市 项目筛选、辅导、尽职调查及上市后持续督导等环节的执业标准，压实"看门人"责任。完善承销商发行 定价能力评价，督促承销商充分提示风险、审慎定价，全面提高承销定价核心能力。研究将投价报告质 量纳入投行执业质量评价体系，督促承销商高质量出具投价报告。进一步规范保荐承销费用收取，关注 不正当竞争行为，严禁阶梯递增收费。（智通财经记者 林坚） 中证协：进一步规范保荐承销费用收取 严禁阶梯递增收费 ...