Translation of the Text

To implement the arrangements of the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on September 26, 2024, regarding "studying and introducing policy measures to protect medium and small investors", as well as a series of decisions and arrangements made by the CPC Central Committee and the State Council, the China Securities Regulatory Commission (CSRC) has, on the basis of extensively soliciting opinions from all sectors, studied and drafted the Several Opinions on Strengthening the Protection of Medium and Small Investors in the Capital Market (hereinafter referred to as the Several Opinions), which is officially released today.

Following the principle of "addressing core concerns, striving for practicality and effectiveness, and being based on law", the Several Opinions focuses on key issues of concern to medium and small investors. It puts forward 23 specific measures covering eight aspects, including:

1. Strengthening the protection of medium and small investors during the issuance and listing process;
2. Creating an institutional environment conducive to fair trading for medium and small investors;
3. Consolidating the responsibility of operating institutions for protecting medium and small investors;
4. Severely cracking down on illegal acts that infringe on the interests of medium and small investors;
5. Further advancing the development of a diversified dispute resolution mechanism for securities and futures;
6. Better giving play to the functional role of investor protection institutions;
7. Improving the institutional mechanism for protecting medium and small investors during the delisting process;
8. Strengthening the legal guarantee for the protection of medium and small investors.

These relevant measures are conducive to improving the investor protection mechanism, enhancing the inherent stability of the capital market, effectively safeguarding the legitimate rights and interests of medium and small investors, and strongly boosting market confidence. As an important outcome of implementing the requirements of the Political Bureau of the CPC Central Committee meeting, the Several Opinions clarifies the overall framework and policy measures for the protection of medium and small investors at present and in the period to come, and serves as a comprehensive policy document in the field of investor protection in the capital market.

In the next step, the CSRC will work with relevant parties to continuously strengthen work coordination, promote the implementation of all measures in the Several Opinions, and earnestly protect the legitimate rights and interests of investors, especially medium and small investors.

Key Translation Notes

1. Institutional & Policy Terminology Accuracy

• "中央政治局会议" is translated as "the Political Bureau of the Communist Party of China (CPC) Central Committee meeting" (full official name with "CPC" abbreviation for clarity, in line with international communication norms).
• "国务院" is rendered as "the State Council" (standard official English name for China’s cabinet-level body).
• "终止上市" is translated as "delisting" (the universally accepted term in capital market contexts, avoiding literal translations like "termination of listing" which are not idiomatic in financial discourse).

1. Document Naming ConventionThe title 关于加强资本市场中小投资者保护的若干意见 is translated as Several Opinions on Strengthening the Protection of Medium and Small Investors in the Capital Market:

• "若干意见" is consistently 译为 "Several Opinions" (the standard translation for this type of Chinese policy document, reflecting its guiding and regulatory nature).
• The parenthetical "(hereinafter referred to as the Several Opinions)" follows English legal/policy writing conventions to simplify subsequent references.

1. Sentence Structure OptimizationThe original Chinese text contains long, complex sentences with multiple parallel components (e.g., the "eight aspects" and their elaborations). The English translation:

• Breaks overly long sentences into logically connected clauses (e.g., using "which" to introduce the release of the document, and bullet points for the eight aspects) to enhance readability.
• Uses gerund phrases (e.g., "Strengthening...", "Creating...") to maintain parallelism for the eight measures, aligning with English rhetorical habits for listing policy priorities.

1. Semantic Consistency

• "中小投资者" is uniformly translated as "medium and small investors" (the standard term in CSRC’s official English publications, distinguishing it from "small and medium-sized enterprises (SMEs)" and avoiding ambiguity).
• "落实落地" (a common Chinese policy phrase meaning "ensure implementation") is rendered as "promote the implementation of" to convey the sense of "driving concrete execution" without redundant literalism.