[China Securities Regulatory Commission: Plans to optimize the circumstances under which public offering holders’ meetings must be held with appropriate restrictions] On October 9, the China Securities Regulatory Commission released the "Measures for the Operation and Management of Publicly Offered Securities Investment Funds (Draft for Comments)" on October 9 and publicly solicited opinions from the public. The fund unit holders’ meeting mechanism has been optimized in the latest draft of the “Operation Measures” for comments. The circumstances under which a shareholders' meeting must be convened will be appropriately narrowed, and "changes in the fund's investment objectives, scope, and strategies" will be adjusted to "major changes in the fund's investment objectives, scope, and strategies, that is, relevant changes will lead to major changes in the fund's risk-return characteristics and main investment direction." In addition, it is clarified that some contract modification matters need to be reached through consultation between the manager and the custodian. After announcing the changes 30 days in advance and notifying investors in a timely manner, the holders' meeting does not need to be held. For example, the investment scope is increased to financial instruments that are not significantly different from the risk-return characteristics of the original financial instruments, the investment proportion is appropriately adjusted without causing significant changes in the risk-return characteristics, and there are reasonable reasons to change the performance comparison benchmark, etc. (Reporter Zhou Xiaoya)