Securities Times: Practicing "putting the interests of shareholders first", public funds set off a reform storm.

On May 7th, the China Securities Regulatory Commission (CSRC) released the "Action Plan for Promoting the High-Quality Development of Public Funds", which aims to address issues such as "guaranteed returns in good and bad times" and the emphasis on fund size in the development of the fund industry. The plan puts forward a package of specific and actionable reform measures. According to information gathered from various sources by journalists, since the release of the plan, major fund companies have quickly convened learning meetings, swiftly broken down task lists, and implemented reforms ranging from innovative floating fee rate mechanisms to the restructuring of assessment systems, and from product supply-side reforms to strengthening compliance ecosystems.