CCTV News:The Opinions on Strengthening Supervision, Preventing Risks and Promoting the High-quality Development of the Capital Market issued on April 12 clearly put forward that we should vigorously promote the medium and long-term capital to enter the market and continue to expand the long-term investment power. China Securities Regulatory Commission (CSRC) said that it is working with relevant authorities to study and formulate specific measures to guide all kinds of medium and long-term funds to increase the scale of equity investment.

Shen Bing, director of the Department of Securities Fund Institution Supervision of China Securities Regulatory Commission, said that the specific measures include actively promoting the long-term stock investment pilot of insurance funds and improving the stability and investment scale of stock investment of insurance funds. Further improve the stock investment policies of the national social security fund and the basic old-age insurance fund. Improve the flexibility of enterprise annuity and personal pension investment.

By the end of last year, the market value of A-shares held by various professional institutional investors totaled 16 trillion yuan, more than doubling in five years, and the shareholding ratio increased from 17% to 23%. Among them, Public Offering of Fund holds the A-share market value of 5.1 trillion yuan, and its shareholding ratio has increased from 4% to 7.3%, making it the largest professional institutional investor in the A-share market.

China Securities Regulatory Commission: It is planned to moderately increase the financial indicators of listing on the Main Board and Growth Enterprise Market.

The Opinions on Strengthening Supervision, Preventing Risks and Promoting the High-quality Development of the Capital Market issued on April 12th also proposed to raise the listing standards of the Main Board and the Growth Enterprise Market. China Securities Regulatory Commission said that improving the financial indicators of listing on the Main Board and Growth Enterprise Market is the need to improve the quality of listed companies from the source, better protect the interests of investors and serve the high-quality development of the economy.

Yan Bojin, chief risk officer and director of the issuance department of China Securities Regulatory Commission, said that it is planned to moderately increase the financial indicators of listed companies on the main board and the Growth Enterprise Market. For the last year, the net profit indicators of the main board and the Growth Enterprise Market are planned to be raised to 100 million yuan and 60 million yuan respectively. The financial conditions for the listing of enterprises in science and technology innovation board and Beijing Stock Exchange remain unchanged, but higher requirements are proposed for the scientific and technological attributes of enterprises in science and technology innovation board.

Yan Bojin said: "With this arrangement, the sectors can be stepped up, and the levels of the sectors are more distinct and the characteristics are more prominent, which can better meet the needs of enterprises with different development stages, different industry attributes and different business scales, and also better meet the needs of investors with different investment purposes and various risk preferences."

China Securities Regulatory Commission issued "Opinions on Strictly Implementing the Delisting System": deepening the system reform and strictly enforcing a number of delisting standards.

On April 12th, China Securities Regulatory Commission issued the Opinions on Strictly Implementing the Delisting System (hereinafter referred to as the Delisting Opinions) to further deepen the reform of the delisting system.

The Delisting Opinions focuses on improving the overall quality of listed companies in stock. Through strict delisting standards, we will intensify efforts to clean up "zombie empty shells" and "black sheep" and reduce the value of "shells" resources. At the same time, broaden diversified exit channels and strengthen investor protection of delisting companies.

In terms of strict scope of application of serious illegal delisting: lowering the threshold for two years of financial fraud to trigger serious illegal delisting, and adding one year of serious fraud and years of continuous fraud delisting. The long-term unresolved occupation of funds leads to the "hollowing out" of assets, years of continuous internal control and non-standard opinions, and disorderly competition for control rights leads to the inability of investors to obtain effective information of listed companies, which are included in the normative delisting situation. In addition, it also includes measures such as improving the operating income delisting index of loss-making companies and improving the market value standard and other trading delisting indicators.

In terms of further unblocking multiple delisting channels: improve policies and regulations such as absorption and merger, and encourage and guide head companies to increase their efforts to industry consolidation based on their main business.

In terms of weakening the value of "shell" resources: strengthen the supervision of mergers and acquisitions, strengthen the relevance of the main business, and strengthen the supervision of "backdoor listing". Strengthen the supervision of acquisition, compact the responsibility of intermediaries, and standardize the transaction of control rights. Strictly crack down on illegal activities behind "shell speculation". Resolutely identify listed companies that have no reorganization value.

In addition, the "Delisting Opinions" also made detailed requirements for strengthening delisting supervision and implementing compensation and relief for delisting investors. The China Securities Regulatory Commission said that the next step will be to promote all measures as soon as possible, crack down on all kinds of delisting evasion, protect the rights and interests of investors, improve the quality of listed companies and purify the ecology of the capital market.　

The China Securities Regulatory Commission publicly solicited opinions on six draft rules such as issuance supervision

On the 12th, the China Securities Regulatory Commission publicly solicited opinions on six draft rules concerning issuance supervision, supervision of listed companies, supervision of securities companies and supervision of transactions.

In the aspect of issuance supervision, the focus is to set higher standards for the amount of R&D investment, the number of invention patents and the growth rate of operating income of science and technology innovation board enterprises. At the same time, the proportion of random inspection of starting enterprises will be greatly increased from 5% to 20%, and the proportion of problem-oriented on-site inspection and on-site supervision of the exchange will be increased accordingly. After adjustment, the overall proportion of on-site inspection and supervision will not be less than one third.

In terms of supervision of listed companies, the key points are to strictly regulate the reduction of major shareholders, effectively prevent the reduction of detours, refine the liability clauses for violations, and strengthen the obligations of key subjects. At the same time, it absorbs and integrates the requirements of the original reduction regulations on regulating Dong Jiangao’s reduction of shares, and further clearly stipulates that all parties shall abide by the original reduction restrictions after divorce and share splitting.

In the aspect of securities company supervision, the key point is to urge the company to correct its business philosophy and focus on its main business; Strengthen internal checks and balances, strengthen the control of domestic and foreign subsidiaries; Strengthen the information disclosure of risk control indicators and carry out financing reasonably and prudently.

In terms of transaction supervision, the key points are to clarify seven contents, such as programmed transaction, transaction monitoring and risk prevention and control, and high-frequency transaction supervision. In addition, the Shanghai and Shenzhen Stock Exchanges simultaneously solicited opinions from the public on 19 specific business rules such as stock issuance and listing review and listing rules, involving improving listing conditions, standardizing the reduction of holdings, and strictly delisting standards.

The China Securities Regulatory Commission publicly solicited opinions on standardizing programmatic transactions: compacting the responsibility of brokers and drawing a "red line" for trading behavior

On the 12th, the China Securities Regulatory Commission issued the Provisions on the Management of Programmatic Trading in the Securities Market (Trial) (Draft for Comment). Among them, it is proposed to tighten the management responsibility of brokers to customers, set monitoring indicators for abnormal transactions, draw a "red line" for trading behavior, standardize the management of technical systems, and clarify the technical system requirements of investors and securities companies.　

Zhang Wangjun, Director of Market Supervision Division I of China Securities Regulatory Commission, said that the procedural transaction management regulations for public consultation closely focus on the main line of strengthening supervision, preventing risks and promoting high-quality development, and adhere to the idea of "pursuing advantages and avoiding disadvantages, emphasizing fairness, effective supervision and standardized development", further making comprehensive and systematic regulations on procedural transaction supervision, and effectively improving the pertinence and effectiveness of procedural transaction supervision.

According to Zhang Wangjun, from the content point of view, the opinions mainly highlight the maintenance of fairness, full chain supervision, system policy, etc. At the same time, it is required that the stock exchange clarify the identification standards for high-frequency transactions, and can implement differentiated charges for high-frequency transactions and strictly manage their abnormal trading behavior.

In recent years, China Securities Regulatory Commission continued to explore and improve the regulatory mechanism of programmed transactions. In September 2023, China Securities Regulatory Commission directed the stock exchange to establish a programmed transaction reporting system. By the end of 2023, the whole market had reported 119,000 programmed trading accounts, which has achieved "all reports should be made". In February this year, the China Securities Regulatory Commission instructed the Shanghai and Shenzhen Stock Exchanges to take timely regulatory measures against abnormal trading behaviors of individual quantitative institutions.

　　In 2016, we not only witnessed the continuous innovation of motorcycles in China, but also ushered in the first year of the development of domestic ADV models. In this year, many excellent independent brands, joint venture brands and imported brands launched a variety of new cars, which covered all the cars. Now 2016 has become history. In 2017, there will be a number of newly listed models to meet with domestic riders. Let’s take a look at what new models below 500cc will be listed this year.

　　This article includes eight new cars under 500cc that riders are most concerned about. Except for the off-road version of TRK502, all other models are brand-new and debut (note: the following introduction order is not ranked).

　　Haojue Suzuki DL250:

　　DL250 caught fire at Chongqing Mobo Fair. Although it was not as beautiful as its cousin GSX250R, it left a deep impression on people. This car comes from the same platform as the familiar GW250, but its appearance has changed greatly. The overall style of the car body inherits the design characteristics of Suzuki V-Strom family models, and there are huge V-Strom logos on both sides of the "bird’s beak" of the DL250.

　　Estimated listing date:Spring and summer of 2017

　　Estimated selling price:27,000-30,000 yuan

　　Vehicle type:Multifunctional station wagon; Adventure car

Click to view the real shot of Haojue Suzuki DL250 adventure car at Chongqing Mobo Fair.

　

Benagli TRK502 off-road version:

TRK502 is a blockbuster that Benagli dropped on the domestic ADV market in 2016. It can be said that the appearance of TRK502 completely activated the wave of domestic ADV, and the appearance designed by the Italian design team fascinated countless domestic consumers. The gold displacement of 500cc double cylinders also lowered the threshold for owning it. If there is anything missing from TRK502, it is that the off-road version that consumers are most looking forward to has not arrived. The TRK502 cross-country version has 19-inch spokes and 17-inch spokes, and at the same time, the position of the exhaust pipe is improved, so that the cross-country ability of the whole vehicle is improved to a certain extent.

Estimated listing date:The second half of 2017

　　Estimated selling price:37,000-40,000 yuan

　　Vehicle type:Adventure car

Click to view the test drive experience of Benagli TRK502, the most popular rally car.

　

Benagli Leoncino (lion cub)

The cub is the first Scrambler in Benagli built by the 500cc twin-cylinder engine on TRK502. The biggest highlight of this car lies in its slightly retro appearance. The spokes and wheels in the front 19 inches and the rear 17 inches are matched with off-road tires, which makes people think of Ducati’s Scrambler. The two cars are similar, but the cub looks more "wild". Scrambler style became popular at the end of 2016. Last year, even BMW’s R nineT launched the corresponding Scrambler model, so in the foreseeable future, the cubs will gain a good market share in China.

Estimated listing date:The second half of 2017

　　Estimated selling price:35,000-38,000 yuan

　　Vehicle type:Scrambler； Street car; Retro car

　

　

Cctv news (Reporter Li Wenliang) In order to cultivate the incorruptible financial culture of the banking and insurance industry, Shandong Banking Insurance Regulatory Bureau instructed Jinan Banking and Insurance Association to carefully select 40 distinctive incorruptible financial cultural positions of regulatory departments and financial institutions to make a "Shandong incorruptible financial cultural map". Users can share excellent resources in the industry by clicking on the cultural map link, making the incorruptible financial culture more concrete and popular.

6月1日，银保监会出台指导意见，明确要求系统内深入推进清廉金融文化建设。山东银保监局近年来因地制宜，结合地域特色文化与金融行业特点，多措并举创新推动清廉金融文化建设，塑魂正身、成风化人，擦亮了“儒风齐鲁·清廉金融”的特色文化品牌。

坚持文化引领 　夯实清正廉洁之“基”

山东银保监局纪委充分汲取红色金融文化力量，督促系统各单位积极开展“清廉金融文化+”活动，打造红色品牌，实现清廉金融文化建设与红色教育、合规经营、队伍建设“三个融合”，传承清廉从业从政优良作风。

同时，依托红色资源广泛开展清廉主题活动，通过推动挖掘“北海银行”红色金融事迹，建立纪念馆，打造山东省银行保险业红色金融教育基地。并与山东大学签订战略合作协议，创办“清廉金融文化大讲堂”，深化“送金融知识进校园”等主题活动，培育“清廉初心”和金融家“风骨情怀”，为廉洁文化转化为治理效能提供理论支撑。

强化载体建设 　为打造清廉金融凝“神”

山东银保监局还推出了特色鲜明的山东清廉金融文化标识和微信表情包。一系列令人喜闻乐见的文化载体，让清廉金融文化更容易入耳、入脑、入心。

In order to enhance the attraction and acceptance of clean financial culture, Shandong Banking Insurance Regulatory Bureau has launched two cartoon images of national style, namely "Qi Xiaoru" and "Lu Xiaolian", which symbolize clean and honest, and are in line with the cultural brand of "Confucian style Qilu clean financial".

In practical work, banks and insurance institutions also carry out different types of cultural construction work, such as sitcoms, stage plays, short videos on the theme of honesty, keynote speeches and poetry readings, with the help of cultural exchanges, venue bases, landscape signs, information networks, books and publications, warning education and family assistance, to create an atmosphere of "honesty creates value, and honesty is everyone’s responsibility".

Adhere to the linkage of supervision to gather "strength" for clean financial ecology

According to the characteristics of the industry, Shandong Banking Insurance Regulatory Bureau gives full play to the advantages of regulatory authorities, government agencies, financial institutions, local discipline inspection and supervision institutions, media and other parties, and strives to build a working pattern of "information sharing, complementary advantages, concerted efforts, and overall operations" to create a joint force of clean financial culture.

In the work, actively strengthen contact with local party committees, discipline inspection committees and relevant departments, and establish a good working mechanism. Some sub-bureaus jointly convened the anti-corruption coordination meeting of banking institutions in the whole city with the supervision committee of the local discipline inspection commission, and signed the Memorandum of Cooperation; Formulate the Joint Conference System for Discipline Inspection and Supervision of Insurance Industry of Shandong Bank (Trial) and hold a joint meeting to realize the same frequency resonance of discipline inspection and supervision forces in the financial system; Promote the establishment of a four-party joint meeting mechanism for supervision and discipline inspection of city commercial banks, institutions and institutional discipline inspection, and strengthen communication and coordination of supervision and supervision.

The construction of clean financial culture was actively planned, and the Guiding Opinions on Further Strengthening the Construction of Clean Financial Culture was formulated, and the theme brand of "Confucian style and clean finance" was determined, and the goal of building a "Qilu model" for the construction of clean financial culture was clearly defined. We will synchronize the construction of clean financial culture with the regulatory requirements, integrate clean financial culture into on-site inspection, and integrate it into the pre-employment conversation and behavior supervision of senior executives, so as to promote the "soft culture" of clean and honest with the "hard indicators" of supervision. It also issued an open letter on clean and honest supervision, hired specially invited clean and honest supervisors, and signed a "Commitment Letter on Building a" Pro "and" Clean "Supervision Relationship with industry organizations to promote the clean and honest financial culture to build, govern and share.

At present, five institutions and four sub-bureaus have been selected to promote the pilot extension of the reporting system for non-official communication to bank insurance institutions, and 26 bank insurance institutions have issued the system, reporting a total of 1359 non-official communication items.

Recently, Shandong Banking Insurance Regulatory Bureau specially formulated the "Three-year Action Plan for Deepening the Construction of Clean Financial Culture in Shandong Banking and Insurance Industry (2022-2024)", held a conference on the co-creation and co-construction of clean financial culture, made great efforts to promote the "four clean projects", and strived to create a clean financial culture construction pattern with themes, systems, positions, characteristics and effectiveness, and used clean financial culture to help guard the "green mountains and green hills" of Shandong’s financial and political ecology.