[China Securities Regulatory Commission: Further Strengthen Punishment for Securities and Futures Violations and Crimes] According to a report by Jinse Finance, on July 25, Cheng Hehong, Chief Counsel and Director of the Legal Affairs Department of the China Securities Regulatory Commission (CSRC), stated at a seminar on practical issues in the trial of securities and futures crimes that China's criminal legal framework for the capital market has achieved significant results and played an important role. The high-quality development of the capital market cannot be separated from the protection provided by criminal legislation and judicial processes. It is essential to deeply understand the characteristics and trends of securities and futures violations and crimes, which include strong public involvement, high professionalism, strong concealment, frequent cross-market linkage violations and crimes, prominence of new types of violations, and the intertwining of administrative and criminal jurisdictions. Efforts must be made to further strengthen the punishment for securities and futures violations and crimes, improve market operation mechanisms, enhance routine regulatory enforcement, focus on cracking down on serious securities and futures violations, deepen the coordination between administrative enforcement and criminal justice, promote the improvement of a criminal legal system that aligns with the characteristics of the capital market, and advance professional research on the overall characteristics of securities and futures violations and crimes. Together, these efforts aim to build a solid legal foundation for the high-quality development of the capital market. (Securities Times)