经济日报发文称，打击资本市场"小作文"谣言迎来新的指导意见。最高人民法院、证监会近日联合发布 的《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》明确，依法打击编传虚假信 息、"维权黑产"、发行上市环节不正当竞争等干扰市场正常运行、扰乱资本市场秩序的违法行为。 ...

5月15日最高法、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》 (下称《意见》)规定，对于通过编传"小作文"等虚假信息扰乱市场秩序、损害他人权益的行为，受害人 提起民事诉讼要求损害赔偿的，法院依法予以支持；构成犯罪的，依法追究刑事责任。笔者认为， 对"小作文"编传者应严厉追责。 《证券法》第56条第四款规定，编造、传播虚假信息或者误导性信息，扰乱证券市场，给投资者造成损 失的，应当依法承担赔偿责任。编传"小作文"等虚假信息导致损害他人权益的，应可依该款追究民事责 任。 本版专栏文章仅代表作者个人观点 （文章来源：证券时报） 但要让《证券法》规定的民事责任真正落地却并不容易，比如其中还规定市场操纵者、内幕交易者的民 事责任，但现实中能够成功追偿的非常少见，存在"立案难"、"开庭难"、"判决难"、"调解难"等现象。 要追究"小作文"民事责任，也或需解决责任主体认定、因果关系认定、损失计算标准等诸多现实问题， 笔者建议： 首先，应建立"过错推定+身份识别"的责任认定体系。现行虚假陈述民事赔偿司法解释适用于信披义务 人虚假陈述案件，其中遵循"推定信赖原则"，即只要投资者在相应期间对案涉证 ...

Group 1 - The core viewpoint emphasizes the need for China to accelerate financial system reforms in response to complex international challenges and to enhance the resilience of the financial system [1][2] - The financial system is at a critical juncture, facing external pressures such as global economic fluctuations and geopolitical risks, particularly from U.S. tariff policies [2][3] - The rapid advancement of technology, including AI and digital currencies, is reshaping the financial competitive landscape, presenting both challenges and opportunities for the financial system [2][3] Group 2 - Continuous deepening of financial reforms and promoting high-level financial openness are essential for building a strong financial nation [3][4] - The capital market plays a crucial role in China's economic modernization and high-quality development, serving as a hub for resource allocation [4] - The government has initiated a "1+N" policy framework to support the high-quality development of the capital market, marking a new phase in its evolution [4]

中新社北京5月19日电 (记者 陈康亮)继5月7日发布的一揽子金融政策后，中国资本市场近期再迎多项增 量政策。分析认为，这有利于持续稳定和活跃中国资本市场。 上市公司是市场之基，提升上市公司质量是助力股市"稳与活"的基础。 中国证监会副主席李明5月19日在深圳证券交易所主办的2025全球投资者大会上表示，证监会将持续引 导上市公司积极通过现金分红、回购增持、并购重组等方式提升投资价值，不断打造高质量、有活力的 上市公司群体。 南开大学金融发展研究院院长田利辉在接受中新社记者采访时表示，中国资本市场以投资者为本的理念 正得到政策端有力支持。监管层提出的上述措施务实、有力，部分已经落地。如近日印发的《推动公募 基金高质量发展行动方案》，标志着中国公募基金行业进入以"投资人利益为核心"的深度改革阶段。新 规强化基金公司与投资者的利益绑定，通过"浮动费率"机制打破基金"旱涝保收"等问题，推动基金公司 重视投资者回报，有利于提升投资者信心。 助力股市"稳与活"除了要"强本强基"，也离不开"严监严管"。 5月15日，中国最高人民法院、证监会联合发布的《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》提出，对于 ...

去年以来，青岛证监局坚持把走访作为宣传政策、传递信心、摸清实情、解决问题、凝聚合力的重要抓 手，有序实现在青岛10个区（市）召开资本市场培训座谈会的全覆盖。一是强化局所地三方联动。逐个 区（市）开展联合走访培训、座谈交流，深化与交易所、区（市）政府的协作机制，凝聚推动资本市场 高质量发展的工作合力。二是强化精准服务。坚持"点对点""面对面"送政策、送服务上门，深入了解企 业面临的问题及具体需求，建立走访工作台账，定期跟踪调度企业诉求办理情况，确保走访收到实效。 三是强化监管质效。将走访和检查有机结合，发挥好"探头""哨兵"作用，将走访中发现的风险苗头问题 及时纳入现场检查计划，统筹做好防风险、强监管、促高质量发展。 下一步，青岛证监局将继续坚持监管与服务并重，有序做好常态化走访工作，助力解决市场主体困难和 问题，努力将走访成果转化为更多助力地方经济高质量发展的实际举措和具体行动。 为深入贯彻落实党的二十届三中全会、中央经济工作会议、全国两会精神、国新办新闻发布会精神以及 证监会系统工作会议精神，推动资本市场"新国九条"和"五篇大文章"工作部署落实落地，日前青岛证监 局主要负责同志带队，联合上海证券交易所、深圳 ...

A股 - The China Securities Regulatory Commission has released revised regulations to enhance the supervision of fundraising by listed companies, aiming to improve the efficiency and safety of fund usage [1] - As of May 15, six *ST companies in A-shares have received pre-notices of termination of listing from the exchange, with half facing delisting due to internal control audit report issues [1] - The Supreme People's Court and the China Securities Regulatory Commission jointly issued guidelines to support the high-quality development of the capital market [1] - In Q1, 21 listed automotive companies in A-shares reported a total operating revenue of 507.469 billion yuan and a net profit attributable to shareholders of 16.324 billion yuan, with leading companies like BYD, SAIC Motor, Great Wall Motors, and Changan Automobile accounting for over 70% of total revenue and over 90% of total net profit [1] - Over 300 listed companies have announced share repurchase plans since April, with a total amount exceeding 100 billion yuan, including both private enterprises and state-owned enterprises [1] - From May 19 to May 23, 40 companies will have their restricted shares unlocked, with eight companies having a market value of over 1 billion yuan [1] New Stock Issuance - Two new stocks are set to be issued this week: Guqi Wool Materials on May 19 and Zhongce Rubber on May 23 [2] Financial Sector - The Wind Bank Index reached a historical high of 7072.61 points as of May 15, with the banking, insurance, and brokerage sectors driving the Shanghai Composite Index above 3400 points [3] - As of the end of April, the social financing scale stock increased by 8.7% year-on-year, and the broad money supply (M2) grew by 8.0%, both showing a significant acceleration compared to the previous month [3] - The cumulative increase in social financing for the first four months of 2025 reached 16.34 trillion yuan, 3.61 trillion yuan more than the same period last year [3] - The People's Bank of China has implemented a 0.5 percentage point reduction in the reserve requirement ratio for financial institutions, effective May 15, as part of a moderately loose monetary policy [3] Bond Market - Following the announcement of a new round of reserve requirement ratio cuts, there has been a noticeable divergence in government bond yields, with the 1-year yield decreasing by 4.93 basis points to 1.4131% and the 10-year and 30-year yields increasing by 5.06 and 5.2 basis points, respectively [4] Private Equity - The private equity fund industry is undergoing a new round of reshuffling, with the number of private securities investment fund managers with over 10 billion yuan in assets increasing to 87 as of May 12 [4] Automotive Industry - In the first four months of 2025, China's automobile production and sales reached 10.175 million and 10.06 million units, respectively, representing year-on-year growth of 12.9% and 10.8% [6] - As of May 11, the number of applications for the automobile trade-in subsidy reached 3.225 million, with 1.035 million for scrapping and 2.19 million for replacement [6]

Group 1 - The controversy surrounding the company "胖都来" involves allegations of trademark infringement related to "胖东来" [4][5] - Inditex, the parent company of ZARA, clarified that it has no association with "胖都来" and denied the claims made by "胖都来" regarding employee involvement [4] - The incident has led to public backlash against all parties involved, with accusations of "碰瓷" (a term for opportunistic behavior) directed at "胖都来" [4] Group 2 - The China Securities Regulatory Commission (CSRC) has issued guidelines to combat the "小作文" (small essay) phenomenon in the stock market, aiming to purify the capital market ecosystem [6] - The CSRC's new guidelines are a response to the reported issues of stock recommendation scams and the associated gray market practices [6] Group 3 - The CSRC has announced reforms to the major asset restructuring management measures for listed companies, marking a significant shift in the regulatory landscape [7] - These changes are part of broader efforts to enhance the quality of capital market operations [7] Group 4 - Shenzhen Morning Light Dairy has been accused of misleading consumers with its "供港壹号" milk product, which allegedly does not supply to Hong Kong as claimed [8] - The company has faced scrutiny for its trademark applications related to "供港," with most being rejected except for "供港壹号" [8] Group 5 - The acquisition of Huiyuan Juice by Guozhong Water has been terminated, leading to public speculation about Huiyuan's financial health [9] - Huiyuan Juice has issued a statement refuting negative claims about its business status, asserting that it has been operating normally since its restructuring in 2022 [9] Group 6 - Panasonic has announced plans to lay off 10,000 employees globally, which represents approximately 4.4% of its total workforce of 228,000 [12] - This decision comes amid declining revenue and profit, indicating significant challenges for the company [12] Group 7 - Shenzhen Metro Group is providing a loan of up to 1.552 billion yuan to Vanke, aimed at repaying bond principal and interest [13] - This financial support highlights the ongoing relationship between the two companies in the real estate sector [13] Group 8 - The stock market is facing issues with fraudulent claims of high returns, with many so-called "stock gods" using fabricated trading records to lure investors [14] - Investigations have revealed that these high-return claims are often generated through software, misleading potential investors [14] Group 9 - Dior has confirmed a data breach affecting its customer database in China, leading to concerns over personal information security [15] - The company has initiated an investigation into the unauthorized access of customer data [15] Group 10 - The retail giant *ST 人乐 (人人乐) is facing delisting from the Shenzhen Stock Exchange, marking a significant decline for the once-prominent company [16] - This decision reflects the challenges faced by traditional retail businesses in the current market environment [16] Group 11 - A recent incident involving Zhengxin Chicken has raised health concerns after a customer found maggots in a chicken leg, prompting an investigation by local authorities [17] - The local market supervision bureau has taken action to inspect and test similar products from the store [17]

Core Viewpoint - Inner Mongolia Electric Power Investment Co., Ltd. is planning to issue shares and pay cash to acquire assets and raise matching funds, specifically targeting the acquisition of equity in the State Power Investment Corporation Inner Mongolia Baiyin Hwa Coal Power Co., Ltd. [1][2] Group 1 - The company has announced that its stock will resume trading on May 19, 2025, after a suspension related to the planned transaction [2]. - The board of directors has decided not to hold a shareholders' meeting to review the transaction until the related audit and evaluation work is completed [2]. - There is uncertainty regarding whether the transaction will receive the necessary approvals and the timeline for such approvals [2]. Group 2 - The company is committed to adhering to relevant laws and regulations and will fulfill its information disclosure obligations in a timely manner following the resumption of trading [2].

Core Viewpoint - The article emphasizes the importance of enhancing Beijing's role as a national financial management center, focusing on high-quality financial development and the integration of various financial policies and services to support the capital's economic growth [2][3][4]. Group 1: Central Bank's Role - The People's Bank of China aims to strengthen the functionality of Beijing as a national financial management center, supporting the city's economic and financial high-quality development while optimizing the financial business environment [2]. - The central bank will focus on promoting the internationalization of the Renminbi and enhancing Beijing's international influence as a financial center [2]. Group 2: Financial Regulatory Support - The Financial Regulatory Administration will implement the central government's decisions to enhance Beijing's financial management capabilities, ensuring better support for the capital's economic and social high-quality development [3]. - There will be an emphasis on regulatory guidance and strengthening the positioning of financial institutions to improve the financial service system in the capital [3]. Group 3: Capital Market Development - The China Securities Regulatory Commission plans to accelerate the development of the Beijing Stock Exchange to better serve innovative small and medium-sized enterprises, thereby enhancing the capital market's role in supporting the city's development [4]. - The focus will be on deepening investment and financing reforms and creating a new high ground for capital market reform and opening up [4].

其他热点还有：财政发力支撑社融增速抬升，特朗普发布"药品降价"行政令 中美会谈取得实质性进展，关税调整正式实施 自北京时间14日12时01分（美东时间14日0时01分）起，中美同时调整对对方商品加征关税措施。 美方还同时下调或撤销对中国小额包裹（包括香港特别行政区小额包裹）加征的关税，将国际邮件从价 税率由120%下调至54%，撤销原定于6月1日起将从量税由每件100美元调增为200美元的措施。 当地时间12日，中美双方发布《中美日内瓦经贸会谈联合声明》，美方取消了共计91%的加征关税，中 方相应取消了91%的反制关税；美方暂停实施24%的"对等关税"，中方也相应暂停实施24%的反制关 税；双方各自保留10％的关税。同时，中美双方建立经贸磋商机制，继续就经贸关系进行协商。 商务部新闻发言人表示，此次中美经贸高层会谈取得实质性进展，大幅降低双边关税水平。这一举措符 合两国生产者和消费者的期待，也符合两国利益和世界共同利益。希望美方以这次会谈为基础，与中方 继续相向而行，彻底纠正单边加税的错误做法，不断加强互利合作，维护中美经贸关系健康、稳定、可 持续发展，共同为世界经济注入更多确定性和稳定性。 【点评】新华时评 ...