The China Securities Regulatory Commission (CSRC) outlined research priorities for technology company listings, artificial intelligence (AI) governance and market stability at the China Capital Market Society’s inaugural academic annual meeting. The emphasis on adaptable listing rules, patient capital and AI governance echoes earlier expert discussions on the capital market’s 15th Five-Year Plan. A central question is how issuance and listing frameworks should accommodate large and new types of technology companies, with appropriate pacing and risk controls. Research should also examine support for businesses serving new consumption patterns and companies upgrading traditional industries.
The priorities for AI include valuation and disclosure frameworks, alongside accountability, data security and customer protection. Further work should examine systemic risks, opaque algorithms and cyberattacks involving AI, as well as financial infrastructure resilience. Market stability research should address global market cycles, changing asset pricing and risk transmission across borders, markets and industries. Other priorities include expanding patient capital, limiting volatility arising from herding and short trading horizons, and reviewing regulatory arrangements for quantitative trading and shareholding reductions to protect investors.