On December 14, Wu Qing, the Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission, presided over a meeting of the Party Committee (expanded). The meeting emphasized the need to enhance regulatory effectiveness. It is imperative to implement regulation that is sharp and robust, to highlight punishment, prevention, and treatment together, and to uphold market fairness. Further improvements will be made to the legal system, enhance law enforcement deterrence, emphasize precision in regulation, prioritize the pursuit of primary offenders, and strictly crack down on illegal activities such as fraudulent issuance and financial fraud. Utilize Big Data and other technological means to enhance the penetration of off-site regulation and on-site inspections, and improve early identification capabilities, especially in early recognition. Strengthen regulatory cooperation and enhance the efficient connection between access, daily supervision, and investigation penalties to improve overall regulatory effectiveness.