China Securities Association has launched industry-wide quality assessments of securities firms' investment-banking, bond and major-asset-restructuring financial advisory businesses, covering the 2025 calendar year (Jan. 1–Dec. 31, 2025). The association will report results to the CSRC for reference in routine supervision. Regulators will use the bond-business assessment to implement differentiated, classified supervisory measures aimed at better incentivizing and constraining securities firms a

China Securities Association has launched industry-wide quality assessments of securities firms' investment-banking, bond and major-asset-restructuring financial advisory businesses, covering the 2025 calendar year (Jan. 1–Dec. 31, 2025). The association will report results to the CSRC for reference in routine supervision. Regulators will use the bond-business assessment to implement differentiated, classified supervisory measures aimed at better incentivizing and constraining securities firms and improving regulatory precision and effectiveness.