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. Ye Fan, chief economist of Southwest Securities and vice director of the Research Institute, believes that this speech shows a high degree of unity of three logics. The first is to position capital market work as an integral part of serving the overall situation of Chinese-style modernization; the second is to put “stability” at the top of the four deployments, dealing with the four major variables of geographical conflicts, interest rate repricing, new AI risks, and cross-market transmission one by one. Market stabilization mechanisms, medium- and long-term capital, and leveraged product risk warnings form a complete risk breakwater; the third is to support new quality production through inclusive reform Strengthen the market through investor returns Foundation, enhance the value of China's asset allocation through a high level of openness. Ye Fan said that at the historical intersection of external chaos and the beginning of the “15th Five-Year Plan”, Wu Qing's speech sent the core signal to the market, that is to hedge against the uncertainty of the external environment with the certainty of its own development and to respond to the expectations of global investors with the stability of institutional openness. China's capital market is writing a new chapter of high-quality development in the “15th Five-Year Plan” with a more mature and steady attitude.

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. Ye Fan, chief economist of Southwest Securities and vice director of the Research Institute, believes that this speech shows a high degree of unity of three logics. The first is to position capital market work as an integral part of serving the overall situation of Chinese-style modernization; the second is to put “stability” at the top of the four deployments, dealing with the four major variables of geographical conflicts, interest rate repricing, new AI risks, and cross-market transmission one by one. Market stabilization mechanisms, medium- and long-term capital, and leveraged product risk warnings form a complete risk breakwater; the third is to support new quality production through inclusive reform Strengthen the market through investor returns Foundation, enhance the value of China's asset allocation through a high level of openness. Ye Fan said that at the historical intersection of external chaos and the beginning of the “15th Five-Year Plan”, Wu Qing's speech sent the core signal to the market, that is to hedge against the uncertainty of the external environment with the certainty of its own development and to respond to the expectations of global investors with the stability of institutional openness. China's capital market is writing a new chapter of high-quality development in the “15th Five-Year Plan” with a more mature and steady attitude.