CSRC investigates securities firms' research report business, which is included in the first-ever "narrative of the Chinese stock market" statistics.

According to industry sources, the China Securities Industry Association recently launched a survey on the business operation of securities companies in 2025 to release securities research reports. Journalists analyzing the survey questionnaire found that the most striking change this year is the inclusion of the statistics on securities research institutes serving national strategies and the future development of industries in the survey, including the actual output of the "five major articles" of securities research services, the public nature of securities research acting as a "market think tank," and the quantified traces of securities research "telling the story of the Chinese stock market." In the eyes of industry insiders, the value measurement scale of securities research business is shifting from a single dimension of commissions and coverage rates to a more complex model, with the social, policy, and international communication functions of securities research officially included in the statistical variables. Overall, the survey questionnaire is divided into three major directions: an overview of securities research institutions, customer service and business development, and the service of national strategies and the future development of industries.