Wu Qing, chairman of the Securities Regulatory Commission, said that compared with the previous two “National Nine Rules,” the opinions issued this time mainly have several characteristics: First, they fully reflect the political and popular nature of the capital market. It was emphasized that it is necessary to uphold and strengthen the Party's overall leadership of capital market work, adhere to a people-centered value orientation, and protect the legitimate rights and interests of investors, especially small and medium-sized investors, more effectively. Second, it fully reflects the main line of strong supervision, risk prevention, and promotion of high-quality development. We must adhere to stability as the tone, strengthen the foundation, strictly supervise and strictly control the capital market itself, and better serve the overall situation of high-quality economic and social development with the high-quality development of the capital market itself. Third, it fully reflects goal orientation and problem orientation. In particular, in response to outstanding issues in institutional mechanisms, supervision and enforcement revealed by stock market fluctuations since August last year, we promptly make up shortcomings, strengths and weaknesses, respond to investors' concerns, promote the resolution of deep-seated conflicts accumulated over time in the capital market, and accelerate the construction of a safe, standardized, transparent, open, dynamic, and resilient capital market. (Xinhua News Agency)