[China Securities Regulatory Commission: Promote the reasonable pricing of new shares on the Beijing Stock Exchange and continue to promote the implementation of price inquiry issuance cases] 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 entitled "Anchoring the main position of innovative small and medium-sized enterprises in serving the North Exchange and promoting the high-quality development of the New OTC Market of the Beijing Stock Exchange." "In the next step, we will further intensify the construction of the investment side, coordinate and promote the balanced development of the primary and secondary markets, and improve the capital market functions that coordinate investment and financing." Shang Qingjun said. On the one hand, the Beijing Stock Exchange will improve the issuance and underwriting system, steadily implement the value placement of new shares, and enhance the sense of gain for investors in the secondary market; promote reasonable pricing of new shares, continue to promote the implementation of inquiry issuance cases, and moderately increase pricing flexibility. On the other hand, we will speed up the improvement of the market product system, increase the supply of public funds, steadily launch the Beijing Securities 50 ETF, and promote the balanced development of both investment and financing. At the same time, we will improve risk monitoring, early warning and emergency response mechanisms, effectively maintain market order, protect the legitimate rights and interests of investors, and jointly create a stable and healthy market ecosystem.