According to the website of the China Securities Regulatory Commission (CSRC), on a certain date, the 16th meeting of the International Advisory Committee of the CSRC (referred to as the "Advisory Committee") was held in Shanghai in a hybrid format combining online and offline participation. The meeting was attended by Mr. Howard Davies, Chairman of the Advisory Committee, Ms. Laura M. Cha, Vice Chairman, and 16 other members of the Advisory Committee and special guests. Also present were Mr. Wu Qing, Chairman of the CSRC, Mr. Li Ming, Vice Chairman, and Ms. Xie Dong, Vice Mayor of Shanghai. Representatives from relevant units of the Central Financial Work Office, the General Office of the State Council, the People's Bank of China, the National Financial Regulatory Administration, as well as leaders from relevant departments, dispatched agencies, and managed units of the CSRC, participated in the meeting.

The theme of this meeting is "Further Expanding High-Level Two-Way Opening, Deepening Capital Market Reforms, and Better Serving the Modernization of China." Participants engaged in extensive and in-depth discussions and deliberations on three topics: "Opportunities and Challenges for the Development of China's Capital Market under the Global Grand Transformation," "How to Further Improve the Basic System and Regulatory Framework of China's Capital Market to Better Promote the Development of New Productive Forces and Serve High-Quality Economic Development," and "How to Steadily and Orderly Advance High-Level Institutional Two-Way Opening of China's Capital Market to Better Attract Long-Term Foreign Investment in China."

The committee members positively evaluated the Chinese government's unwavering determination and policy stability in advancing reform and opening up. They believed that over the past year, China's capital market has made significant efforts in strengthening regulation, preventing risks, and promoting high-quality development, playing a positive role in fostering the high-quality development of the Chinese economy and supporting the growth of new forms of productive forces. The committee members paid high attention to the recent package of incremental policy measures and the optimization of existing policies introduced by the Chinese government, believing that these policy initiatives are of great significance and encouraging, which will help further enhance the resilience of economic development, improve international market expectations for China's economic outlook, boost the confidence of domestic and foreign investors in the investment value of the stock market, and promote the recovery and improvement of the capital market.

The committee members highly commended the positive progress and achievements China's capital market has made in its high-level opening-up to the outside world. They suggested further improving the rules and systems for high-level institutionalized two-way opening-up, enhancing measures that facilitate foreign investment in China, increasing the stability and transparency of policy formulation, and strengthening communication and exchanges with international market investors. Additionally, the committee members also provided advisory opinions and work recommendations on how to further deepen the reform and innovation of China's capital market, the role of the capital market in supporting technological innovation, how to further improve the capital market's function of coordinating investment and financing, promoting the positive interaction between long-term capital such as pensions and the capital market, how to enhance the investment value of listed companies, improve the quality of listed companies, shareholder returns, and corporate governance levels, how to strengthen the basic systems of the capital market and enhance its intrinsic stability, how to cultivate and expand patient capital such as venture capital and private equity investment, and deepen green finance for sustainable development.

The Advisory Committee is an expert consulting body of the China Securities Regulatory Commission, established with the approval of the State Council in month and year, and consists of former officials from overseas financial regulatory agencies, senior executives of financial institutions, and renowned experts and scholars. The Advisory Committee convenes an annual meeting to discuss the development of China's securities and futures markets, introduce the latest trends and regulatory experiences from international markets, and provide the China Securities Regulatory Commission with advisory opinions and suggestions. This serves to facilitate the China Securities Regulatory Commission in drawing upon international best practices and beneficial experiences, and to continuously play a positive role in promoting the reform, opening-up, stability, and healthy development of the capital market.