In 2022, the China Securities Regulatory Commission strictly followed the requirements, adhered to the overall tone of seeking progress while maintaining stability, continued to strengthen the construction of a rule of law government in the capital market, and achieved remarkable results in investigating and handling major cases, promoting the reform of "delegating powers, regulating powers, and preventing power abuse. 2022 is the second year of the implementation of the "Outline for the Construction of a Rule of Law Government (2021-2025)". The China Securities Regulatory Commission strictly adheres to the requirements, adheres to the overall tone of seeking progress while maintaining stability, continues to strengthen the construction of a rule of law government in the capital market, and has achieved remarkable results in investigating and handling major cases, promoting the reform of "delegating control and service", and preventing power abuse. Continuously improving the legal system, from its initial proposal to gradually piloting, has gone through nearly a decade, and the institutional arrangement of fully implementing the stock issuance registration system has finally been basically finalized in 2022. On February 17, 2023, the relevant system of stock issuance registration will be fully implemented. The China Securities Regulatory Commission and system units have issued a total of 165 institutional rules, covering various aspects such as issuance conditions, registration procedures, recommendation and underwriting, major asset restructuring, regulatory enforcement, and investor protection. The release and implementation of relevant institutional rules marks the promotion of the registration system to the entire market and various types of public issuance of stocks. According to Huang Jiangdong, a partner of Guohao Law Firm (Shanghai), in addition to the highly anticipated registration system, other institutional developments in the capital market are also being introduced and improved. In 2022, the long-awaited Futures and Derivatives Law of the market was reviewed and passed. Seven regulations and 40 normative documents, including the Measures for the Supervision and Administration of Directors, Supervisors, Senior Managers and Practitioners of Securities Fund Operating Institutions, the Measures for the Supervision and Administration of Managers of Publicly Offered Securities Investment Funds, and the Measures for the Administration of Securities Registration and Settlement, have been formulated and revised. The China Securities Regulatory Commission has packaged and cleared 31 regulatory and normative documents, improving the standardization and scientific level of the rule system. According to the relevant person in charge of the China Securities Regulatory Commission, in terms of basic legal systems, the China Securities Regulatory Commission also cooperates with the revision of the Company Law and the Enterprise Bankruptcy Law, and promotes the formulation and revision of administrative regulations such as the Regulations on the Supervision and Administration of Listed Companies and the Regulations on the Supervision and Administration of Securities Companies. Promote the release of the Supreme Law on Several Opinions on Providing Judicial Protection for Deepening the Reform of the New Third Board and Establishing the Beijing Stock Exchange, and Several Provisions on Trial of Civil Compensation Cases for Misrepresentation Infringement in the Securities Market. Promote the promulgation of the "Provisions on the Standards for Filing and Prosecution of Criminal Cases under the Jurisdiction of Public Security Organs (II)" by the Supreme Procuratorate and the Ministry of Public Security. Not only that, the China Securities Regulatory Commission has also signed a Sino US audit supervision cooperation agreement with the Ministry of Finance and the Public Company Accounting Supervision Commission of the United States, and strictly carried out cooperation matters for the year 2022 in accordance with the laws, regulations, and cooperation agreements of both parties. Promote the improvement of the extraterritorial application system of capital market laws, and with the approval of the State Council, issue the "Trial Measures for the Administration of Overseas Issuance and Listing of Securities by Domestic Enterprises" and related supporting rules to better support enterprises to go public overseas in accordance with the law and regulations. Adhere to strict governance of the city in accordance with the law, and prioritize the system. In 2022, the China Securities Regulatory Commission will strengthen the construction of a "zero tolerance" system in the capital market. Joint issuance with the Supreme Procuratorate on the establishment and improvement of a mechanism for linking administrative law enforcement and procuratorial performance in the capital market