Wu Qing: Investment banks need to enhance wealth management services and speed up the improvement of evaluation systems that focus on investor returns.

On December 6, Wu Qing, Chairman of the China Securities Regulatory Commission, stated at the 8th Member Conference of the China Securities Association that the professional service capabilities need to be significantly improved. He emphasized the importance of shouldering the responsibility of being gatekeepers, adhering to principles such as honesty, diligence, independence, and objectivity, strengthening the internal control of investment banks, and guiding listed companies to operate in a standardized manner and enhance their value to solidify the foundation of market development. Wu Qing highlighted the important responsibility of investment banks in the process, emphasizing the need to enhance value discovery and nurturing capabilities, strengthen business collaboration, enhance the professionalism and influence of IPO, mergers, and restructuring services, actively participate in creating enterprise value, focus on enhancing underwriting and pricing capabilities, promote the coordinated and stable development of primary and secondary markets, improve wealth management service capabilities, further strengthen ties with investors, accelerate the establishment of an evaluation system with investor returns at its core, promote the transformation and development of brokerage, investment advisory, and integrated wealth management services, and provide comprehensive support for various types of medium to long-term funds by performing product transactions, market risk management, and more. Wu Qing stressed the importance of enhancing the market ecology of "long-term investment", improving cross-border financial comprehensive service capabilities, adhering to high-level internationalization and high-quality introduction, gradually promoting internationalization and "Belt and Road" layout for eligible institutions, enhancing highly specialized services and vertical integration management capabilities. He also emphasized the need for the securities industry to continuously innovate financial products on the basis of controllable risks and better meet the needs of investors and the market. Wu Qing mentioned that financial technology innovation is rapidly evolving and reshaping the financial market ecology, and industry institutions should embrace change, actively research, steadily explore, and promote the layout and application of technologies such as artificial intelligence, big data, and blockchain in the capital market. He stated that the Securities Regulatory Commission will work together with industry associations to facilitate the innovative pilot work in the securities industry, enrich regulatory sandboxes and other application scenarios, and improve the monitoring, supervision, and risk response mechanisms for financial innovation activities.