Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued guidelines to strengthen the protection of small and medium-sized investors in the capital market, marking a significant milestone in the construction of the investor protection system in China [1][2]. Group 1: Investor Protection Measures - The guidelines cover the entire process from issuance to delisting, creating a comprehensive "safety net" for investor protection [1]. - The measures aim to enhance market trust, improve the investment ecosystem, and increase the sense of security for small and medium-sized investors [1][2]. - The guidelines emphasize the importance of investor education and appropriate management by industry institutions, urging them to integrate these aspects into their business processes [2][3]. Group 2: Legal and Dispute Resolution Mechanisms - The special representative litigation system has played a crucial role in supporting small and medium-sized investors in obtaining compensation, with 60,000 investors collectively compensated 2.739 billion yuan [4]. - The guidelines call for optimizing the operation mechanism of the special representative litigation system to improve efficiency and reduce costs for investors seeking legal recourse [4][5]. - The CSRC aims to enhance the multi-channel dispute resolution mechanisms, including mediation, civil litigation, and advance compensation systems, to provide more accessible and practical relief for investors [5][6]. Group 3: Delisting and Compensation Mechanisms - The guidelines propose to improve the compensation mechanisms for investors during the delisting process, particularly for companies that are forcibly delisted due to major violations [7][8]. - Companies facing delisting risks are encouraged to take proactive measures to compensate investors for losses incurred due to illegal activities [7]. - The guidelines also require companies that voluntarily delist to provide cash options and other protective measures for investors, ensuring a fair and predictable delisting process [8].

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has issued guidelines to strengthen the protection of small and medium-sized investors in the capital market, marking a significant milestone in the development of the investor protection system in China [1][2]. Group 1: Investor Protection Measures - The guidelines cover the entire process from issuance to delisting, creating a comprehensive "safety net" for investor protection [1]. - The measures aim to enhance market trust, improve the investment environment, and increase the sense of security for small and medium-sized investors [1][2]. - The guidelines represent an institutional innovation at the regulatory level, supporting high-quality development of the capital market and balancing fairness and efficiency [1]. Group 2: Responsibilities of Industry Institutions - The guidelines emphasize the responsibility of securities, fund, and futures institutions in protecting investors, particularly in education and service [2]. - Institutions are required to integrate investor education into their business processes and improve complaint handling mechanisms [2][3]. - The guidelines aim to shift the focus of industry institutions from sales-oriented to service-oriented, enhancing self-discipline and rebuilding institutional credibility [2]. Group 3: Legal and Dispute Resolution Mechanisms - The special representative litigation system has played a crucial role in supporting small and medium-sized investors in obtaining compensation, with 60,000 investors collectively compensated 2.739 billion yuan [4]. - The guidelines call for optimizing the operation mechanism of the special representative litigation system to improve efficiency and accessibility for investors [4]. - The CSRC aims to enhance the multi-channel dispute resolution mechanisms, including mediation, civil litigation, and advance compensation systems [5]. Group 4: Delisting and Compensation Mechanisms - The guidelines propose to strengthen the compensation mechanisms for investors during the delisting process, particularly for companies involved in major violations [7][8]. - Companies facing delisting risks are encouraged to take proactive measures to compensate investors for losses incurred due to illegal activities [7]. - The guidelines also require companies that voluntarily delist to provide cash options and ensure transparent information disclosure to protect investor interests [8].