Group 1 - The China Securities Regulatory Commission (CSRC) released a notice on February 6 regarding the selection direction and application guidelines for provincial and ministerial-level research topics for 2026, focusing on enhancing the inclusiveness and adaptability of the capital market during the 14th Five-Year Plan period [1] - The CSRC identified 12 research topics, including improving the governance effectiveness of listed companies under the new Company Law, optimizing the structure of listed companies, and studying the binding mechanism between public funds and investor interests [1] - Other topics include innovations in pension financial investment mechanisms, regulatory research on accounting firms in the capital market, and the impact of AI technology on investor behavior and market regulation [1] Group 2 - The application for research topics is led by one or two units, with a requirement for diversity among participating units, and the leading unit must have the necessary talent and material conditions to complete the research [2] - The research period is generally set for 6 to 12 months, with a maximum extension of 6 months, and the CSRC has designated the China Securities Financial Research Institute as the management unit for these research projects [2] - The management unit is responsible for progress control, acceptance criteria, and ongoing tracking of the research quality and progress [2] Group 3 - The CSRC clarified that all research directions do not represent regulatory guidance but are intended for research reserves [3]

Core Viewpoint - The article outlines the selection directions and application guidelines for provincial and ministerial-level research topics by the China Securities Regulatory Commission (CSRC), emphasizing the importance of high-quality development and risk prevention in the capital market [3][4]. Group 1: Guiding Principles - The research should align with Xi Jinping's thoughts and the spirit of the 20th National Congress, focusing on risk prevention, regulatory strengthening, and promoting high-quality development in the capital market [3]. - The aim is to enhance the inclusiveness and adaptability of the capital market system during the 14th Five-Year Plan period, addressing significant issues through collaborative research [3]. Group 2: Research Topics - Key research topics include improving corporate governance under the new Company Law, binding mechanisms between public funds and investor interests, and innovations in pension financial investment mechanisms [4][5]. - Other topics cover the impact of AI on investor behavior, enhancing regulatory capabilities in an open environment, and improving pricing efficiency in the capital market [4][5]. Group 3: Application Conditions - Research topics should be led by one or two units, with diverse participation from top think tanks, universities, and market institutions, excluding individual applicants [5]. - Leading units must possess the necessary talent and resources to complete the research, including organizing the research team and ensuring confidentiality of sensitive content [5]. Group 4: Application Timeline - The deadline for submitting research proposals is March 31, 2026, with specific submission requirements outlined for clarity [6]. - Applicants must ensure the quality of submissions and avoid duplicate applications for similar topics [6]. Group 5: Management Arrangements - The typical research duration is 6-12 months, with a maximum extension of 6 months allowed under specific circumstances [7]. - The CSRC's designated research institution will manage the progress and quality of the research projects, conducting regular checks and evaluations [8]. Group 6: Other Matters - All research directions do not represent regulatory guidance from the CSRC but serve as a reserve for research [9].