CCTV News: According to the Supreme Court, on May 15, the Supreme People's Court and the China Securities Regulatory Commission jointly issued the "Guiding Opinions on Strictly and Fairly Enforce the Law and Justice and Service and Guaranteeing the High-Quality Development of the Capital Market" (hereinafter referred to as the "Guiding Opinions"). The "Guiding Opinions" is a programmatic document for the judicial guarantee of the reform and development of the capital market. It targetedly improves judicial policies and judgment rules, innovates working mechanisms, and comprehensively improves the quality and efficiency of trial supervision. It is an important achievement in the construction of the rule of law in the capital market. It will help give full play to the functions and role of the people's courts, strengthen judicial and administrative coordination, and promote the high-quality development of the capital market in all aspects.

In recent years, the Supreme People's Court has successively formulated comprehensive judicial documents on handling judicial interpretations on handling criminal cases such as manipulating the securities and futures market, using undisclosed information to trade, illegal fundraising, judicial interpretations on civil compensation such as false securities statements, representative litigation, "Jiumins Association Minutes", minutes of bond dispute cases, minutes of symposium on bankruptcy reorganization of listed companies, and guiding opinions on ensuring the reform of the registration system. On the new era and new journey, in order to better adapt to the practical needs of capital market reform and development and further improve the judicial rules of the capital market, the "Guiding Opinions" comprehensively summarize the trial and execution work of the people's courts and the actual situation of capital market supervision and law enforcement. From five aspects, including overall requirements, investor protection, market participant norms, judicial administrative coordination and organization and implementation guarantee, 23 opinions on strictly and fairly enforcing the law and justice, and ensuring the reform and development of the capital market, are put forward. The main contents include: First, focus on investor protection and stand firm in the people's position. Crack down on fraudulent issuance and fraudulent financial information disclosure in accordance with the law, and improve the civil compensation liability system for false statements. Carry out securities dispute representative litigation on a regular basis to facilitate investors to safeguard their legitimate rights and interests in accordance with the law and reduce investors' rights protection costs. The second is to regulate the behavior of market participants and shape a good market ecology. Promote securities and futures fund management institutions to return to their original origin and operate stably. Improve the judicial rules of the multi-level capital market, support industry self-discipline organizations to perform their duties in accordance with the law, ensure high-level institutional opening of the capital market, purify the capital market ecology, and prevent and resolve capital market risks. The third is to strengthen judicial and administrative coordination and gather development synergy. Promote the improvement of the diversified dispute resolution mechanism and promote the "focus on the front end and cure the disease" in depth and practice. Strengthen the working mechanism of consultation and information sharing, make good connection between judicial procedures and administrative supervision procedures, and comprehensively improve the quality and efficiency of judicial trial execution and administrative supervision and punishment. Fourth, improve organizational guarantees and effectively improve trial and supervision capabilities. Strengthen the construction of the financial trial team, adhere to political guidance, and always strive for the construction of the Party’s work style and clean government. Optimize the jurisdiction mechanism and trial mechanism of financial cases, strengthen the financial trial mechanism and two-way exchange and training mechanism, and continuously improve the standardization and legalization of regulatory enforcement.

In the next step, the Supreme People's Court and the China Securities Regulatory Commission will work together to implement the "Guiding Opinions", continuously consolidate the institutional foundation for judicial guarantees in the capital market, optimize and improve the coordinated working mechanism of judicial and regulatory, and continuously improve the standardization and legalization of regulatory enforcement, provide more powerful services and guarantees for the reform and development of the capital market, and serve the overall situation of building a financial power and Chinese-style modernization.