On December 6, at the 8th General Meeting of the China Securities Association, Chairman Wu Qing of the Securities Regulatory Commission delivered a speech on the high-quality development of the securities industry. Wu Qing pointed out that securities companies should firmly grasp the key to improving the effectiveness of governance, actually implement the rigid requirements of corporate governance and equity management, improve conflict of interest prevention mechanisms such as management of related transactions, resolutely prevent shareholders from interfering with operations in violation of regulations, and resolutely identify unqualified shareholders. Wu Qing said that it is necessary to further strengthen transaction management, enhance the ability and pertinence of penetrating management, enhance the fairness of trading services for different types of investors, safeguard the legitimate rights and interests of small and medium-sized investors, and strictly prevent illegal arbitrage and disrupting the transaction order. It is necessary to strengthen risk prevention in key areas. Businesses that need to be focused on, such as securities financing, OTC derivatives, private equity asset management, etc., institutions that need to be focused on, and key risks such as credit, liquidity, and compliance must be “wide open” to prevent problems before they occur; new business formats such as cryptographic assets must be thoroughly investigated and carefully treated, and never expand businesses that cannot be seen or controlled, and never do anything that violates laws and regulations.

On December 6, at the 8th General Meeting of the China Securities Association, Chairman Wu Qing of the Securities Regulatory Commission delivered a speech on the high-quality development of the securities industry. Wu Qing pointed out that securities companies should firmly grasp the key to improving the effectiveness of governance, actually implement the rigid requirements of corporate governance and equity management, improve conflict of interest prevention mechanisms such as management of related transactions, resolutely prevent shareholders from interfering with operations in violation of regulations, and resolutely identify unqualified shareholders. Wu Qing said that it is necessary to further strengthen transaction management, enhance the ability and pertinence of penetrating management, enhance the fairness of trading services for different types of investors, safeguard the legitimate rights and interests of small and medium-sized investors, and strictly prevent illegal arbitrage and disrupting the transaction order. It is necessary to strengthen risk prevention in key areas. Businesses that need to be focused on, such as securities financing, OTC derivatives, private equity asset management, etc., institutions that need to be focused on, and key risks such as credit, liquidity, and compliance must be “wide open” to prevent problems before they occur; new business formats such as cryptographic assets must be thoroughly investigated and carefully treated, and never expand businesses that cannot be seen or controlled, and never do anything that violates laws and regulations.