Chairman of the Securities Regulatory Commission Wu Qing: We must conduct in-depth assessments and approach new formats such as crypto assets with caution

According to the Shanghai Securities Journal, Wu Qing, chairman of the China Securities Regulatory Commission, stated at the eighth member conference of the China Securities Association that it is necessary to strengthen risk prevention in key areas. For businesses that require close attention, such as margin financing and securities lending, over-the-counter derivatives, and private asset management, as well as institutions like subsidiaries with headquarters in other locations, key risks such as credit, liquidity, and compliance must be "watched closely" to prevent problems before they occur. For new formats like crypto assets, in-depth analysis and cautious treatment are required; businesses that cannot be clearly understood and controlled should not be developed, and illegal activities must be resolutely avoided.