The head of the relevant department of the Securities Regulatory Commission answered questions from reporters. The reporter asked: On December 30, Minmetals Securities announced the establishment of a special fund for advance payment in response to Guangdao digital misrepresentation, and China Securities Investor Protection Fund Co., Ltd. announced that it was entrusted as the fund manager. How would you rate this? The Securities Regulatory Commission answered: Advance payment is one of the diversified resolution mechanisms for securities disputes under the Securities Law. The issuer's controlling shareholders, actual controllers, and relevant securities companies voluntarily promise to pay investors in advance according to law, establish special advance payment funds, conduct negotiations with eligible investors, and seek civil settlements with investors. As a public welfare investor protection agency, China Securities Investor Protection Fund Co., Ltd. is commissioned by fund funders. It is responsible for the daily management and operation of the fund, provides important support and services for the smooth development of advance payments, and effectively protects the legitimate rights and interests of investors. The China Securities Regulatory Commission supports relevant market institutions and personnel to voluntarily carry out advance payment work in accordance with the relevant provisions of the Securities Law, actively and effectively resolve market conflicts and disputes, and protect the legitimate rights and interests of investors in a convenient and efficient manner.

The head of the relevant department of the Securities Regulatory Commission answered questions from reporters. The reporter asked: On December 30, Minmetals Securities announced the establishment of a special fund for advance payment in response to Guangdao digital misrepresentation, and China Securities Investor Protection Fund Co., Ltd. announced that it was entrusted as the fund manager. How would you rate this? The Securities Regulatory Commission answered: Advance payment is one of the diversified resolution mechanisms for securities disputes under the Securities Law. The issuer's controlling shareholders, actual controllers, and relevant securities companies voluntarily promise to pay investors in advance according to law, establish special advance payment funds, conduct negotiations with eligible investors, and seek civil settlements with investors. As a public welfare investor protection agency, China Securities Investor Protection Fund Co., Ltd. is commissioned by fund funders. It is responsible for the daily management and operation of the fund, provides important support and services for the smooth development of advance payments, and effectively protects the legitimate rights and interests of investors. The China Securities Regulatory Commission supports relevant market institutions and personnel to voluntarily carry out advance payment work in accordance with the relevant provisions of the Securities Law, actively and effectively resolve market conflicts and disputes, and protect the legitimate rights and interests of investors in a convenient and efficient manner.