On October 19, Chairman Wu Qing of the Securities Regulatory Commission delivered a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting. Song Yu, chief Chinese economist at UBS Securities, said that the other side of the benefits brought by the rapid development of technology is risk, and the related risks faced by individual investors with limited financial knowledge are particularly high. Increasing their protection not only allows them to reap the benefits of technological progress, but also reduces their risks. The focus on safety may slow down some applications in the short term, but it is more conducive to long-term development under the premise of safety and control. He believes that the “no waste” principle proposed by Wu Qing in terms of supervision will help avoid insufficient supervision in the early stages of emerging industries. Problems concentrated after rapid development, then a sharp tightening at once, and the potential risk of market fluctuations.

On October 19, Chairman Wu Qing of the Securities Regulatory Commission delivered a keynote speech at the opening ceremony of the 2026 Financial Street Forum Annual Meeting. Song Yu, chief Chinese economist at UBS Securities, said that the other side of the benefits brought by the rapid development of technology is risk, and the related risks faced by individual investors with limited financial knowledge are particularly high. Increasing their protection not only allows them to reap the benefits of technological progress, but also reduces their risks. The focus on safety may slow down some applications in the short term, but it is more conducive to long-term development under the premise of safety and control. He believes that the “no waste” principle proposed by Wu Qing in terms of supervision will help avoid insufficient supervision in the early stages of emerging industries. Problems concentrated after rapid development, then a sharp tightening at once, and the potential risk of market fluctuations.