China Galaxy Securities has been very active in research business. On December 13th, the International ESG Research Center was established under the New Development Research Institute of China Galaxy Securities, focusing on structural and medium to long-term issue research, aiming to deepen ESG research, promote international cooperation, and contribute to Global sustainable development. In July this year, to better transition the research business towards integrated business, China Galaxy Securities established the New Development Research Institute based on the traditional research institute, initiating a new phase of "investment research specialization + think tank research expertization" dual development. According to Zhang Jun, chief economist of China Galaxy Securities and director of the institute, green finance and sustainable development have become global consensus. The average educational background of the team members at the newly established International ESG Research Center is doctoral level, possessing deep specialized research abilities and substantial accumulated results. Zhang Jun mentioned that, based on local expertise, the International ESG Research Center is committed to continuously promoting the sharing of ESG across different regions through extensive international cooperation, and hopes to play a more important role in the formulation and promotion of global ESG standards through ongoing collaboration with Global multilateral institutions in the future.