The China Securities Regulatory Commission said at a party‑building and regulatory forum that accelerating global shifts and persistent geopolitical conflict have increased the risk of cross‑market contagion, while a new wave of technological and industrial change plus accumulating positive macro, fundamental and liquidity factors — and ongoing capital‑market reform — have improved market allocation value. The CSRC urged maintaining confidence and the steady‑progress policy stance, balancing local vs. overall priorities, policy stability vs. flexibility, stock vs. incremental measures, and fairness vs. efficiency; it called for proactive adaptation, decisive problem‑solving, completion of this year’s targets and a strong start to the 15th Five‑Year period for China’s capital markets.(金十数据)