Speech by Chairman Xiao at the Launching Ceremony of "Fairness at Side" Insurance Transfer Activities

-- Speech by Chairman Xiao Gang at the Launching Ceremony of "Fairness Around" Investor Protection Special Activity

Comrades, friends of the media:

Good morning! Welcome to the CSRC 12386 hotline workplace research interview. Since its trial operation in September 2013, 12386 hotline has handled 77000 effective demands of investors, and has gradually become the main channel for investors to reflect problems and resolve disputes, and an important window for regulatory authorities to contact and serve investors. Through the joint efforts of many parties, especially with the strong support of the telecommunications sector, the 12386 hotline has achieved direct dialing across the country today, so that investors from all over the country can fairly enjoy the services provided by the 12386 hotline.

Taking this opportunity, I am very happy to announce: Starting with the 12386 hotline to achieve direct dialing across the country, the "Fairness is around" investor protection special activity was officially launched today! This special event was jointly initiated by the Investor Protection Bureau of the China Securities Regulatory Commission, China Securities Investor Protection Fund Corporation, and China Securities Small and Medium Investor Service Center. The purpose of holding such an event is to thoroughly implement the Opinions of the General Office of the State Council on Further Strengthening the Protection of the Legal Rights and Interests of Small and Medium Investors in the Capital Market through specific and practical work measures, and fully implement the various work requirements of investor protection to the capital market. All aspects and links of reform, development and supervision and law enforcement, and strive to create a fairer market environment, so that every investor, in particular, the majority of small and medium-sized investors really feel that fairness is on their side.

Fairness is the eternal value pursuit of human beings, the main theme of the times and the symbol of social progress. Fairness is the core value of socialism with Chinese characteristics, and maintaining fairness is the practical need to implement the spirit of the 18th CPC National Congress, promote social harmony and realize the great rejuvenation of the Chinese nation. Fairness is an inevitable requirement for the healthy development of capital markets. Without a fair market environment, it is impossible to ensure dynamic and orderly market competition, and it is difficult to give full play to the function of capital market allocation of resources. Therefore, ensuring equity in capital markets is one of the main objectives of securities regulation.

Fairness around is to let small and medium-sized investors have a fair right to know information. Information is the premise of investment. The majority of small and medium investors are at a disadvantage in the chain of information acquisition. It is the original work of securities supervision and our most important responsibility to allow small and medium investors to obtain information fairly. It is necessary to firmly establish a work philosophy oriented to the needs of investors, clarify the content and standards of information disclosure, and use easy-to-understand language to make it easy for investors to obtain information. At the same time, it is necessary to strengthen the education of small and medium investors, hoping that they will carefully analyze the company's fundamentals, understand the information disclosed by the company in a timely manner, and avoid hearsay and blindly follow the trend. The majority of small and medium-sized investors, especially new investors, must firmly establish a sense of risk, make prudent decisions, invest rationally, bear their own risks, and do what they can.

Fairness is around, is to let small and medium-sized investors fair participation in decision-making and management. Effective participation in corporate decision-making is the legal right that the Company Law clearly gives investors as shareholders of the company. It is necessary to effectively change the problem that it is inconvenient for small and medium shareholders to participate in decision-making management, the opinions of small and medium shareholders are not taken seriously, and some companies even deliberately restrict the rights of shareholders, and take effective measures to promote the practical exploration of small and medium shareholders such as separate vote counting, online voting, and cumulative voting. Specialized agencies carry out pilot work on the exercise of shareholding in accordance with the law.

Fairness is around, is to let small and medium-sized investors get a fair return on investment. The right to income distribution is the most important shareholder right. It is necessary to effectively change the situation of listed companies that emphasize financing and neglect returns, continue to urge listed companies to implement the policy requirements of cash dividends, optimize the investment return mechanism, and urge listed companies to create value for all shareholders.

Fairness around is to allow small and medium investors to obtain fair relief and compensation when their legal rights are violated. No right without relief. When the legitimate rights and interests of investors are infringed, the channels of relief should be smooth, the methods of relief should be diverse, and the procedures of relief should be convenient. While further promoting the improvement of litigation and arbitration systems, it is necessary to comprehensively strengthen dispute mediation, administrative reconciliation, advance compensation and other diversified interest dispute handling mechanisms to ensure that victimized investors can obtain fair legal support and compensation relief in a timely manner.

The "Fairness by Your Side" investor protection special activity is a continuous work. This year, we will focus on the following tasks: First, expand the service function of the 12386 hotline, so that investors can remember, get through, run quickly, and have an answer., Trustworthy, improve investor satisfaction. The second is to establish and improve the securities and futures dispute mediation organization system, promote the establishment of national dispute mediation organizations, continue to play the role of industry associations and local mediation organizations, and realize the convenience of investor dispute mediation applications, simplified procedures, professional authority, and effective implementation. Third, we will launch a pilot program for the exercise of shareholding by specialized institutions, strengthen the awareness of the rights of small and medium-sized investors through demonstration effects, guide them to exercise their rights in accordance with the law, and urge listed companies to improve their governance and treat all shareholders fairly. The fourth is to do a good job in the construction of investor websites and investor education bases, so that investors have their own websites, have their own service places and channels, and get fairer educational service opportunities for free.

The special activity of "fairness around" investor protection is an all-round, comprehensive and wide-ranging work. All units and departments of the CSRC system shall, in accordance with the overall deployment of special activities, earnestly perform their duties and conscientiously implement the work.

All market operators should enhance their sense of responsibility for investor protection, take the initiative to carry out their work, and implement the requirements of investor suitability management, facilitation of investor exercise, complaint handling, education services, risk disclosure and other work requirements in the whole process of business activities.

The majority of investors are the main force of investor protection. In particular, they must enhance their self-protection capabilities and safeguard their legitimate rights and interests in accordance with the law.

Investor protection requires the joint efforts of all sectors of society, and it is inseparable from a good public opinion environment. Today, many media are present, which also reflects the concern and support of media friends for investor protection. I sincerely hope that everyone will continue to give full play to the advantages and roles of public opinion supervision, publicity and education, so that the activities have a voice and resonance, promote the formation of consensus in the society, and jointly cultivate a fair and rational market culture and atmosphere.

Finally, I wish the "fairness around" investor protection special activities a complete success! Thank you all!

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