A-share evening hot spots | China Securities Regulatory Commission issues heavy-weight series of policies to consolidate the stable and positive momentum of the capital market and expand the types of strategic investors.

1. Wu Qing: Fully consolidate the stable and positive momentum of the capital market On January 30, the Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission (CSRC), Wu Qing, held a symposium in Beijing. Wu Qing emphasized the need to fully consolidate the stable and positive momentum of the capital market, focusing on the continuous deepening of comprehensive capital market financing and investment reforms, improving the inclusiveness and adaptability of the system, expedite the reform of the Growth Enterprise Market, continue to promote the implementation of reforms in the Science and Technology Innovation Board, enhance the convenience, flexibility, and attractiveness of refinancing systems, and promote the high-quality integrated development of the Beijing Stock Exchange and the New Third Board. 2. CSRC: Proposed to expand the types of strategic investors and clarify the minimum shareholding requirements The China Securities Regulatory Commission (CSRC) is seeking public opinions on the decision to revise the "Opinions on the Application of Relevant Provisions of the Securities Issuance and Registration Management Measures for Listed Companies." The opinions propose to expand the types of strategic investors and clarify that national social security funds, basic pension insurance funds, and corporate (occupational) annuity funds can be strategic investors, using patient capital as strategic resources for investing in listed companies. The opinions also mention clarifying the minimum shareholding requirements, stating that strategic investors should not hold less than 5% of shares of listed companies and should have a deep understanding of the listed companies' industrial development to help introduce strategic resources or improve governance. 3. Gold and silver collectively plummet, what happened? Following significant volatility on Thursday night, the prices of gold and silver continued to plummet on Friday. Analysts attribute the decline in precious metals to investors taking profits after record highs earlier this year, and also influenced by the rebound of the US dollar. In addition, news of Kevin Warsh being nominated by Trump as the next Federal Reserve Chairman also impacted gold and silver prices. Warsh has long criticized loose monetary policy, so the market may be pricing in the impact of his appointment on future policy paths. 4. Two departments: Orderly establish a reliable capacity compensation mechanism on the generation side The National Development and Reform Commission and the National Energy Administration recently jointly released a notice on improving the capacity electricity price mechanism on the generation side. It specifies that by increasing the proportion of fixed costs of coal-fired power units recovered through capacity electricity prices to not less than 50%; in regions with a high proportion of new energy installations and a large demand for reliable capacity, a reliable capacity compensation mechanism should be established quickly. 5. President Trump nominates Kevin Warsh as Federal Reserve Chairman On January 30, President Trump nominated former Federal Reserve Governor Kevin Warsh as the next Federal Reserve Chairman, subject to Senate approval. Warsh joined the Federal Reserve in 2006 and was the youngest Fed Governor at the time. During his tenure at the Fed, Warsh had a hawkish monetary policy stance, but in recent years has shifted to supporting Trump's tariff policies and advocating for faster interest rate cuts. 6. ICBC and CCB adjust gold accumulation business, multiple resource LOFs also calibrate On January 30, ICBC and CCB successively announced adjustments to the rules of personal gold accumulation business. In addition, Jasic Crude Oil LOF and Jasic Gold LOF announced suspensions of large-scale subscription and large-scale regular investment business from February 2, 2026, with a daily cumulative limit not exceeding 5 yuan. 7. Ministry of Finance speaks out! Concerning securities trading stamp duty, parenting subsidies On January 30, Deputy Director of the Treasury Department, Zheng Yong, revealed that by 2025, stamp duties on securities trading would reach 20.35 billion yuan, an increase of 57.8%. Deputy Director of the Ministry of Finance's Social Security Department, Liu Ying, stated that to date, more than 30 million infants and young children across the country have received parenting subsidies. 8. Regarding listed company disclosures, the three major exchanges issue important releases On January 30, under the guidance of the China Securities Regulatory Commission, the Shanghai, Shenzhen, and Beijing Stock Exchanges issued revised "Guidelines for the Preparation of Sustainable Development Reports by Listed Companies," adding specific guidelines on "pollutant emissions," "energy utilization," and "water resource utilization," continuing to promote listed companies to enhance their awareness of sustainable development and promote standardized disclosure. This release marks the final implementation of the disclosure operational standards for the three major environmental issues that have been highly anticipated by the market since the draft was publicly solicited for opinions on September 5, 2025, providing a clear and comprehensive operational manual for listed companies, especially those subject to mandatory disclosures by the end of April 2026. 9. Ministry of Finance: From February 2, 2026, implement a provisional import tax rate of 5% on whiskey According to the Ministry of Finance, on January 30, the State Council Tariff Commission issued an announcement adjusting the import tariffs on whiskey. From February 2, 2026, a provisional import tax rate of 5% will be imposed on whiskey. This product is classified under the 22083000 tariff number in the "People's Republic of China Import and Export Tariff (2026)." The article also covers investment opportunities and announcements related to the market.