Core Viewpoint - The report emphasizes the importance of enhancing investor services and protections in the securities industry, aligning with the spirit of recent national policies and guidelines, particularly focusing on the needs of small and medium investors [2][3]. Summary by Sections Introduction - The report is the sixth annual publication by the China Securities Association, aimed at implementing the directives from the 20th National Congress and subsequent meetings, as well as the new "National Nine Articles" and the capital market "1+N" policy framework [1]. Main Report - The securities industry will adhere to Xi Jinping's thoughts and prioritize a people-centered approach to improve service quality and protect the rights of investors, especially small and medium investors [2]. - The report outlines the establishment of a multi-layered, full-process, and three-dimensional investor protection system, including the introduction of two new industry standards for customer feedback and complaint handling [2]. - A total of 236,700 investor education activities were conducted throughout the year, reaching over 1.4 billion individuals, focusing on protecting investor rights and boosting confidence in the market [2]. - The use of technology, such as artificial intelligence and large language models, is emphasized to enhance service efficiency and customer experience, providing more personalized and intelligent services [2]. - The report highlights the success of online mediation platforms, resolving 332 disputes with a total settlement amount of 7.7694 million yuan, showcasing the effectiveness of the diversified dispute resolution system [2]. Future Directions - The association plans to continue its self-regulatory and service-oriented role, enhancing the systematic and coordinated approach to investor services and protections, aiming for higher standards and more effective measures to safeguard the rights of small and medium investors [3].

Group 1 - The Financial Street Forum focused on promoting innovation, transformation, and restructuring of financial development within a legal framework [1] - The Beijing Financial Court and the China Securities Association jointly released two reports: "Judicial Protection of Capital Market High-Quality Development" and "2024 Annual Report on Investor Services and Protection by Securities Companies" [3] Group 2 - The "Judicial Protection of Capital Market High-Quality Development" report discusses the reflection of capital market development in the judicial field, the establishment of a trial mechanism that matches capital market development, and the sorting of judicial rules related to securities [3] - The "2024 Annual Report on Investor Services and Protection" emphasizes strengthening the investor protection system, constructing a full-cycle investor service ecosystem, and innovating financial practices for the public [3] Group 3 - The Beijing Financial Court and the China Securities Investment Fund Association released the "Private Investment Fund Filing Guidelines" and "Typical Cases of Private Investment Funds" [3] - The "Private Investment Fund Filing Guidelines" is a revised version aimed at protecting investors' legal rights, reflecting the principle of investor autonomy, and optimizing the connection between judicial and self-regulatory processes [3] - The "Typical Cases of Private Investment Funds" includes significant cases such as investors authorizing representatives to sue after fund managers go missing and the introduction of guarantee mechanisms to resolve liquidation deadlocks [3]