Wu Qing: Overall, the A-share market is stable and active, with evident improvements in market resilience and risk resistance.

At the eighth member conference of the China Securities Industry Association, Wu Qing, the chairman of the China Securities Regulatory Commission, delivered a speech. He mentioned that this year, the overall stability and activity of the A-share market has been good, with the market value exceeding 100 trillion yuan since August. The market has shown growth in both quantity and quality, and the market's resilience and risk resistance have significantly improved, leading to continued improvement in investor confidence and expectations. In this process, the securities industry has actively integrated into the overall economic and social development, including the smooth implementation of landmark reorganization cases such as the Guotai Junan merger, initially achieving a synergistic effect; small and medium-sized institutions have focused on breaking through segmented markets, shifting from homogeneous operations to differentiated development; foreign institutions have accelerated their layout, with 11 foreign securities companies now conducting business in China.