[Liu Haoling, Vice Chairman of the China Securities Regulatory Commission: The Chinese government attaches great importance to the stable and healthy development of the capital market. The safety, resilience and innovative value of Chinese assets will continue to be highlighted] On November 12, Liu Haoling, Vice Chairman of the China Securities Regulatory Commission, delivered a speech at the 2026 Shanghai Stock Exchange International Investors Conference. Liu Haoling said that the Chinese government attaches great importance to the stable and healthy development of the capital market. The China Securities Regulatory Commission will resolutely implement the decisions and arrangements of the Party Central Committee, implement the requirements of the recent State Council executive meeting, improve the market stabilization mechanism, enhance the inherent stability of the stock market, and work with relevant departments to implement a combination of policies to stabilize the market and stabilize expectations. Making full use of the two structural monetary policy tools, securities and fund companies have launched the third batch of swap facility operations worth 100 billion yuan. Listed companies are supported to increase their efforts in repurchases and holdings. Since the beginning of this year, the newly disclosed repurchase plan amounts, actual repurchase amounts, repurchase cancellation amounts and proportions of listed companies have all reached record highs. Enrich market investment tools, increase the supply and innovation of equity products, and guide and encourage active ETFs to accelerate investment and position building. We will further expand the sources, channels and market entry methods of medium and long-term funds, promote the counter-cyclical adjustment function of margin trading and securities lending, and bring together all parties to jointly maintain the smooth operation of the market. Looking to the future, the supporting conditions and basic trends for China's long-term economic growth have not changed, and the safety, resilience and innovative value of China's assets will continue to be highlighted. We warmly welcome financial institutions and global investors from all over the world to invest in China’s capital market and jointly write a new chapter of mutual benefit and win-win!