On October 19, Chairman Wu Qing of the Securities Regulatory Commission delivered a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting. Shi Jinfeng, an analyst at Huatai Securities, said that the tone of the current regulatory policy sends a positive and steady signal. Eighteen incremental products such as active ETFs and medium- to long-term funding arrangements will help improve the current capital supply and demand and market structure. Strengthening warning and monitoring of cross-border risks is conducive to preventing imported and novel risks. Overall, regulation is still based on the management of expectations as the main policy goal, and a series of policy promotions are aimed at stabilizing expectations and confidence in the capital market. Shi Jinfeng also mentioned that the upcoming liquidity support tool to deal with large redemptions by non-bank institutions aims to break the negative cycle of “sell-off - net worth decline - further redemption” in the bond market under extreme circumstances, enhance market resilience, provide substantial support for the stability of the bond market and risk prevention and control of non-bank institutions, indirectly benefit stock market sentiment, and reduce cross-market contagion. The tool design emphasizes “specific scenarios+collateral+prudential conditions”, avoids normalization, and aims to balance stability and market discipline.

On October 19, Chairman Wu Qing of the Securities Regulatory Commission delivered a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting. Shi Jinfeng, an analyst at Huatai Securities, said that the tone of the current regulatory policy sends a positive and steady signal. Eighteen incremental products such as active ETFs and medium- to long-term funding arrangements will help improve the current capital supply and demand and market structure. Strengthening warning and monitoring of cross-border risks is conducive to preventing imported and novel risks. Overall, regulation is still based on the management of expectations as the main policy goal, and a series of policy promotions are aimed at stabilizing expectations and confidence in the capital market. Shi Jinfeng also mentioned that the upcoming liquidity support tool to deal with large redemptions by non-bank institutions aims to break the negative cycle of “sell-off - net worth decline - further redemption” in the bond market under extreme circumstances, enhance market resilience, provide substantial support for the stability of the bond market and risk prevention and control of non-bank institutions, indirectly benefit stock market sentiment, and reduce cross-market contagion. The tool design emphasizes “specific scenarios+collateral+prudential conditions”, avoids normalization, and aims to balance stability and market discipline.