The reporter learned that the China Securities Association has drafted and formed “Opinions on Further Deepening the Cultural Construction of the Securities Industry” and is currently seeking proposals from brokerage firms. The new regulations propose the establishment of a resource allocation and allocation mechanism to promote the concentration of resources such as capital, manpower, and scientific and technological investment in the main business, functional business, and national policy support areas. The new regulations clearly implement “functional priority” reviews in internal control reviews and new business entry processes, clarify compliance boundaries for new businesses and products, and strictly control businesses that clearly deviate from the main business and do not meet the needs of the real economy; add indicators related to functional contributions and social value to the business line assessment to provide incentives for businesses that accurately empower the real economy. At the same time, the document emphasizes the need to correctly understand the relationship between functionality and profitability, and insist on deepening the main business and working hard for a long time.

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