Core Viewpoint - The article discusses the release of the "Guiding Opinions" by the Supreme People's Court and the China Securities Regulatory Commission, aimed at enhancing investor protection and ensuring the high-quality development of the capital market through judicial and administrative collaboration [1][2]. Group 1: Investor Rights Protection - The "Guiding Opinions" emphasize the need to strengthen investor protection awareness, ensuring investors' rights to information, participation in corporate governance, fair market participation, and reasonable returns [2][4]. - It proposes measures to enhance the quality of listed companies and to facilitate the resolution of securities disputes through representative litigation [2][6]. - The document outlines the importance of increasing the costs of illegal activities, such as fraud and financial disclosure violations, to deter such behaviors [2][5]. Group 2: Multi-level Capital Market Construction - The "Guiding Opinions" call for the regulation of securities, futures, and fund management institutions to prevent regulatory arbitrage and promote stable operations [2][3]. - It aims to improve the judicial rules of the multi-level capital market and support self-regulatory organizations in fulfilling their responsibilities [2][3]. Group 3: Judicial Rule Improvement - The document highlights the need for high-quality judicial execution to support the capital market's development, including clarifying existing judicial interpretations and establishing new ones where necessary [3][4]. - It emphasizes the importance of a "zero tolerance" approach to capital market violations, integrating criminal, civil, and administrative penalties [3][4]. Group 4: Judicial Regulatory Collaboration - The "Guiding Opinions" advocate for the establishment of a comprehensive judicial protection mechanism and the enhancement of multi-faceted dispute resolution mechanisms [3][4]. - It stresses the importance of information sharing and collaboration between judicial and regulatory bodies to improve investor protection [3][4].

Core Viewpoint - The Supreme People's Court and the China Securities Regulatory Commission jointly issued guidelines to ensure fair law enforcement and judicial support for the high-quality development of the capital market, outlining 23 specific opinions across five key areas [1][3]. Group 1: Investor Protection - Focus on protecting investors by combating fraudulent issuance and financial information disclosure fraud, and improving the civil compensation system for false statements. Regularly conduct representative litigation for securities disputes to facilitate investors in safeguarding their legal rights and reduce the cost of investor rights protection [2]. Group 2: Market Participant Regulation - Standardize the behavior of market participants to create a healthy market ecosystem. Encourage securities, futures, and fund management institutions to return to their core functions and operate steadily. Improve judicial rules for multi-level capital markets, support industry self-regulatory organizations in fulfilling their duties, and purify the capital market ecosystem to prevent and mitigate risks [2]. Group 3: Judicial and Administrative Coordination - Strengthen judicial and administrative collaboration to create a cohesive development force. Promote a diversified dispute resolution mechanism and deepen the "prevention" approach. Enhance communication and information sharing mechanisms to improve the efficiency of judicial proceedings and administrative regulatory processes [2]. Group 4: Organizational Support - Improve organizational support to enhance judicial and regulatory capabilities. Strengthen the construction of financial trial teams, maintain political leadership, and focus on party conduct and integrity. Optimize the jurisdiction and trial mechanisms for financial cases, and enhance the standardization and rule of law in regulatory enforcement [2]. Group 5: Implementation and Future Steps - The Supreme People's Court and the China Securities Regulatory Commission will work together to implement the guidelines, continuously solidifying the institutional foundation for judicial support in the capital market, optimizing the coordination between judicial and regulatory work, and enhancing the standardization and rule of law in regulatory enforcement to better serve the reform and development of the capital market [3].