Core Viewpoint - The central government emphasizes the importance of a stable and active capital market for the economic vitality and the well-being of millions of families, directing efforts towards maintaining market stability and encouraging long-term investments [1][2]. Group 1: Market Stability - The stability of the capital market is deemed essential for healthy development, promoting social expectations, and enhancing the effectiveness of monetary and fiscal policies [1][2]. - A series of policy measures have been implemented to counteract market volatility, including strong signals from multiple government departments and active participation from state-owned enterprises and financial institutions [2][3]. - The People's Bank of China will support the Central Huijin Investment Ltd. in increasing its holdings in stock market index funds when necessary, ensuring the smooth operation of the capital market [2][3]. Group 2: Market Vitality - A vibrant capital market is crucial for resource allocation, guiding funds towards high-quality listed companies and supporting the real economy [3][4]. - Recent reforms aim to stimulate investment and financing, focusing on nurturing new productive forces and encouraging long-term capital inflow, particularly from public funds [3][4]. - The revised management measures for major asset restructuring of listed companies aim to enhance market activity and facilitate resource integration and transformation [4]. Group 3: Regulatory Efficiency - Continuous improvement in regulatory efficiency is necessary to achieve both stability and vitality in the capital market, with a focus on investor protection throughout the regulatory process [5][6]. - The introduction of a judicial guideline aims to strengthen the protection of investor rights and enhance collaboration between judicial and administrative bodies [5][6]. - Regulatory authorities are intensifying efforts to combat securities and futures violations, with a significant increase in the number of cases handled and penalties imposed [6].

Core Viewpoint - The article emphasizes the importance of protecting investors, particularly small and medium-sized investors, as a core task of the China Securities Regulatory Commission (CSRC) and highlights ongoing efforts to enhance investor protection mechanisms and promote high-quality development in the capital market [1][2]. Group 1: High-Quality Development of Capital Market - The CSRC is committed to promoting high-quality development in the capital market as a foundation for effective investor protection, implementing a new round of reforms, and enhancing policies to support technology innovation and new productive forces [2]. - In the recent annual report disclosures, over 70% of more than 5,400 listed companies announced dividends totaling 2.39 trillion yuan, setting a new historical record [2]. Group 2: Improvement of Investor Protection Mechanisms - The legal framework is crucial for investor protection, and the CSRC is actively involved in drafting financial laws and revising regulations to strengthen the legal basis for protecting investor rights [3][4]. - A new mechanism for reviewing major policy regulations concerning small and medium-sized investors has been established to ensure transparency and fairness in rule-making [4]. Group 3: Development of Securities and Fund Institutions - The CSRC has released an action plan to promote the high-quality development of public funds, aiming to align the interests of fund companies with those of investors and enhance the quality of investor services [4]. - There is a focus on improving the governance and compliance capabilities of securities companies and sales institutions to better serve investors [4]. Group 4: Strict Enforcement Against Violations - The CSRC is committed to a rigorous regulatory approach, enhancing the standardization of enforcement and precision in punishing violations, particularly in cases of financial fraud and insider trading [5]. - Efforts are being made to combat illegal activities that harm small and medium-sized investors, including illegal stock recommendations and unauthorized agency rights protection [5]. Group 5: Support for Investor Rights Protection - The CSRC is working to establish a mechanism for representative litigation to facilitate collective dispute resolution for investors, in collaboration with judicial authorities [6][7]. - There is an emphasis on providing legal assistance to small and medium-sized investors to resolve conflicts and maintain market stability [7]. Group 6: Ongoing Commitment to Investor Protection - The CSRC recognizes investor protection as a long-term and systematic task, pledging to continue enhancing the effectiveness of investor protection measures and building consensus among various stakeholders [8].