[State Administration of Financial Supervision: Adhere to substance over form and strengthen penetrating supervision of large-amount investment credit extensions] On October 19, Ding Xiangqun, director of the State Administration of Financial Supervision, attended the opening ceremony of the 2026 Financial Street Forum Annual Meeting and said that the current operating environment, structural characteristics and risk patterns of the financial industry have undergone profound changes. It is necessary to advance with the times to improve the level of regulatory capabilities, focus on source prevention and control, improve monitoring and early warning response mechanisms, optimize classified and hierarchical supervision, and achieve continuous supervision of the entire process and entire chain. Pay attention to targeted efforts, insist on substance over form, standardize shareholder behavior and executive performance of duties, and strengthen penetrating supervision of large-amount investment credit extensions. Focus on technological empowerment, accelerate digital and intelligent transformation, enrich the toolbox, build a good combination of skills, continuously improve supervision methods, and enhance the quality and efficiency of supervision.