[China Securities Regulatory Commission: Will base its positioning on serving innovative small and medium-sized enterprises and release the innovative evaluation standards of the Beijing Stock Exchange] On October 21, Shang Qingjun, a first-level inspector of the Department of Public Company Supervision of the China Securities Regulatory Commission, delivered a keynote speech at the 2026 Financial Street Forum Annual Meeting titled "Anchoring the main position of serving innovative small and medium-sized enterprises and promoting the high-quality development of the New Third Board of the Beijing Stock Exchange". Shang Qingjun said that based on the positioning of serving innovative small and medium-sized enterprises, the China Securities Regulatory Commission will publish the Beijing Stock Exchange's innovation evaluation standards, more accurately identify various innovation elements, clarify reporting expectations, and better serve innovative small and medium-sized enterprises that are at the forefront of industry subdivisions and have strong innovation capabilities, sustainable growth potential and professional development advantages, continue to optimize the structure of listed companies, and further strengthen the New Third Board standards. Cultivate functions, improve the access and exit mechanism, optimize the hierarchical management of the New Third Board, enhance the brand effect and innovative attributes of the innovation layer, improve differentiated information disclosure arrangements, consolidate the development pattern of "layered advancement, top-down linkage, top-level feedback, and bottom-level boost" between the Beijing Stock Exchange and the New Third Board, provide continuous relay and accurately adapted capital market services for specialized and special new enterprises, and better empower the development of new productivity.