[Wu Qing: Further deepen the research on the long-term mechanism for market stability and prevent abnormal market fluctuations] November 14th, Wu Qing, Chairman of the China Securities Regulatory Commission, said at the 2026 China Capital Market Academic Annual Conference on November 14 that by further deepening the research on the long-term mechanism for market stability, China’s capital market has never been as highly interconnected and resonant with the global capital market as it is today. In the face of a highly uncertain external environment and imported risks, we need to strengthen our understanding of regular changes in the global capital market, the evolution of asset pricing logic, and risk transmission linkages, further strengthen the research and response to cross-border, cross-market, and cross-industry risks, systematically build stable mechanisms, stable forces, and stable ecology, and effectively prevent abnormal market fluctuations.