Chairman of the Securities Regulatory Commission Wu Qing: We should conduct in-depth analysis and treat 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. Businesses that require close attention include margin financing and securities lending, over-the-counter derivatives, and private asset management, as well as institutions such as subsidiaries with headquarters in different locations. Key risks such as credit, liquidity, and compliance must be "watched closely" to prevent problems before they arise. For new business formats like crypto assets, a thorough assessment and cautious approach are required; businesses that cannot be clearly understood or managed should not be developed, and illegal activities must be firmly avoided.