Wu Qing: Always focus on the interests of investors first.

The China Securities Regulatory Commission released Wu Qing's speech at the 4th Member Representative Conference of the China Securities Investment Fund Industry Association. Wu Qing pointed out the importance of always prioritizing the interests of investors. Whether it is public funds or private funds, they must adhere to the trust and financial management obligations of "managing entrusted assets on behalf of clients," continuously strengthen institutional constraints and restructuring of interests, and accelerate the transformation from "emphasizing scale" to "emphasizing returns." The current reform of public funds has reached a crucial point, with industry reputation gradually improving. It is necessary to continue to work hard, consolidate and expand the achievements of reform and development without any relaxation. It is important to strengthen the binding of interests, implement regulatory requirements and reform in various aspects such as corporate governance, product issuance, investment operations, and performance evaluation, enhance the stability of investment operations, strengthen counter-cyclical thinking, strive to create more sustainable medium-to-long-term returns for investors, resolutely curb issues such as gambling, style drift, and high issuing prices, and not return to the old path of "chasing scale, making quick money." It is important to focus on equity investment, as this is the industry's advantage and key to serving investors. Efforts should be made to strengthen the construction of investment research professional capabilities, enhance the industry influence and competitiveness of equity investments. It is important to strengthen supply-demand coordination, focus on creating stable products such as those with low volatility, introduce more investment products suitable for medium- to long-term capital, better meet the differentiated needs of different groups, and accelerate the transformation towards a buyer-reward-oriented investment advisory service, continuously improve investor satisfaction and trust.