Cheng Hehong, Chief Lawyer of China Securities Regulatory Commission: Will revise and improve the "Regulations on the Supervision and Management of Integrity in the Securities and Futures Markets" to establish and improve disciplinary measures for dishonesty and incentives for compliance.

Cheng Hehong, Chief Lawyer of the China Securities Regulatory Commission, stated in his keynote speech at the Tianjin Wudao Financial Forum on June 5, 2025, that the next step is to build a more trustworthy and friendly market environment. The high risk of technological innovation itself also brings high risks to the capital market activities that support technological innovation. The greater the risk, the higher the level of credit required. In the process of supporting technological innovation in the capital market, it is necessary to further strengthen the honest and trustworthy construction of the market, improve the level of integrity of all parties participating in the market. The CSRC will amend and improve the "Measures for the Supervision and Management of Integrity in the Securities and Futures Markets", further enrich the database system for the integrity archives of the capital market, establish and improve the system for punishing dishonesty and rewarding honesty, crack down on serious dishonest behaviors such as fraudulent issuance, false information disclosure, and intermediary agencies failing to fulfill their duties diligently, enhance market transparency, play the role of intermediary service institutions in verification and oversight, improve the professional ethics of practitioners, and establish a highly trustworthy capital market to support the development of high-level technological innovation.