Core Viewpoint - The recent revision of the "Regulations on Securities Analysts' Participation in External Evaluations" aims to enhance the accountability and ethical standards of securities analysts in China, incorporating social responsibility and adherence to Chinese financial culture into their evaluation criteria [1][3]. Summary by Sections Revision Overview - The revised regulations clarify that they apply to securities companies, their research departments, teams, and analysts, and also extend to securities investment advisors participating in evaluation activities [2]. - New evaluation requirements for securities companies regarding the organizing institutions of evaluations have been introduced, emphasizing the need for compliance, experience, and fairness in the evaluation process [2]. - Organizers of external evaluations must submit a commitment letter to the China Securities Association (CSRC) before conducting evaluations, with the acceptance of this letter being verifiable on the CSRC's official website [2]. Analyst Evaluation Criteria - Securities companies are now required to include analysts' fulfillment of social responsibilities and adherence to Chinese financial culture in their performance assessment metrics [2][3]. - This change signifies a shift in the evaluation of analysts, moving beyond mere external rankings and performance metrics to include their contributions to the real economy and positive industry influence [3]. Impact on the Industry - The revisions are expected to further curb the utilitarian tendencies in evaluations and promote a healthier and more sustainable development of the securities research industry [3].