Headline of Securities Times: Vigilant against market volatility, consolidate the steady development trend of the capital market.

The article mentioned that the China Securities Regulatory Commission recently held a systemic work conference for the year 2026, deploying a new round of tasks for capital market reform with a focus on stability. Industry insiders believe that counter-cyclical regulation can effectively boost market confidence during market downturns by using policy tools, and can guide the market back to rationality and achieve long-term stability and improvement during overheated market conditions. Long-term capital acts as a "ballast" to resist market volatility, and "long-term money entering the market" is conducive to optimizing the capital structure and guiding the value investment concept. In recent times, regulatory authorities have continued to strengthen supervision and have started counter-cyclical regulation.